---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-098802"
form_type: "8-K"
ticker: "DAVE"
cik: "0001841408"
company_name: "Dave Inc./DE"
filed_at: "2026-03-09T23:59:59+00:00"
generated_at: "2026-05-15T18:08:47.943401+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dave Inc. closes $200M 0% convertible notes offering, repurchases $70.5M shares

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-098802
- form_type: 8-K
- ticker: DAVE
- cik: 0001841408
- company_name: Dave Inc./DE
- filed_at: 2026-03-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841408/000119312526098802/0001193125-26-098802-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841408/000119312526098802/d108294d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-098802
- JSON: https://secwatch.observer/filing/0001193125-26-098802.json
- Plain text: https://secwatch.observer/filing/0001193125-26-098802.txt

## Key facts
- Debt Financings
  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
  source text: (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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841408/000119312526098802/0001193125-26-098802-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841408/000119312526098802/0001193125-26-098802-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.