Dave Inc./DE (DAVE): debt financing — Dave Inc. closes $200M 0% convertible notes offering, repurchases $70.5M shares

Dave Inc./DE

Issued $200M aggregate principal of 0% Convertible Senior Notes due 2031, net proceeds ~$192.1M.
Used $70.5M of proceeds to repurchase ~0.3M shares at $210.67 per share.
Entered capped call transactions covering ~0.7M shares with cap price initially $421.34/share to offset dilution.
Notes convertible at initial rate of 3.5825 shares per $1,000 (initial conversion price ~$279.13).
Remaining net proceeds for general corporate purposes, including additional buybacks.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Dave Inc./DE incurred convertible notes of $200 million aggregate principal amount with U.S. Bank Trust Company, National Association at 0% maturing April 1, 2031.

Instrument: convertible notes
Principal: $200 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0%
Maturity: April 1, 2031
Event: incurrence

Exact text from the filing

(the “Additional Notes” and, together with the Base Notes, the “Notes”). On March 5, 2026, the initial purchasers elected to exercise the option in full and a total of $200 million aggregate principal amount of Notes were issued on March 9, 2026. The Notes were offered only to persons reasonably believed to be qualified institutional buyers (as defined in

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Dave Inc./DE entered into Indenture with U.S. Bank Trust Company, National Association valued at $200 million aggregate principal amount (effective 2026-03-09).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $200 million aggregate principal amount
Effective: 2026-03-09

Exact text from the filing

The Company issued the Notes under an indenture, dated as of March 9, 2026 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).

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312 debt financings filed in the last 30 days. Browse all debt financings →

Dave Inc./DE filing history →

Source: SEC EDGAR

accession 0001193125-26-098802

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