VPC Impact Acquisition Holdings III, Inc. Stockholders Approve Business Combination with Dave Inc.
January 04 2022 - 9:30PM
Business Wire
Transaction Expected to Close on January 5,
2022
Combined Company Expected to Begin Trading on
The Nasdaq Global Market (“Nasdaq”) Under the Symbol “DAVE” on
January 6, 2022
VPC Impact Acquisition Holdings III, Inc.
(NYSE: VPCC) (“VPCC”), a publicly-traded special purpose
acquisition company, today announced that, at the special meeting
of its stockholders held on January 4, 2022, the stockholders voted
to approve its previously announced business combination (the
“Business Combination”) with Dave Inc. (“Dave”), a banking app on a
mission to build products that level the financial playing
field.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220104006070/en/
Approximately 96.2% of the votes cast at the meeting voted to
approve the Business Combination Proposal.
The Business Combination is expected to close on January 5,
2022, subject to the satisfaction or waiver of customary closing
conditions.
The combined company’s Class A common stock and warrants are
expected to begin trading on The Nasdaq Global Market (“Nasdaq”)
under the symbols “DAVE” and “DAVEW,” respectively, starting
Thursday, January 6, 2022.
The formal results of the vote were included in a Current Report
on Form 8-K filed by VPCC with the Securities and Exchange
Commission (the “SEC”).
About VPC Impact Acquisition Holdings III, Inc.
VPC Impact Acquisition Holdings III, Inc.’s acquisition and
value creation strategy is to identify, partner with and help grow
a business in the Fintech industry headquartered or with operations
in the United States. VPCC’s sponsor is an affiliate of Victory
Park Capital, a global investment firm with a long track record of
executing debt and equity financing transactions with some of the
largest global Fintech companies. The firm was founded in 2007 and
is headquartered in Chicago with additional resources in New York,
Los Angeles and Austin. Victory Park Capital is privately held and
a Registered Investment Advisor with the SEC. For more information,
please visit:
www.victoryparkcapital.com/vih/vpc-impact-acquisition-holdings-iii/
About Dave
Dave is a banking app on a mission to build products that level
the financial playing field. Dave helps its more than 11 million
customers budget, avoid overdraft fees, find work and build credit.
For more information, visit www.dave.com.
No Offer or Solicitation
This communication is for informational purposes only and is not
intended to and shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy or subscribe for any securities, nor shall there be any sale,
issuance or transfer of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended, and otherwise in accordance
with applicable law.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, the
anticipated closing date of the Business Combination, Dave’s
strategic plans and expectation for growth and new products
offerings and other statements identified by words such as “will
likely result,” “are expected to,” “will continue,” “is
anticipated,” “estimated,” “believe,” “intend,” “plan,”
“projection,” “outlook” or words of similar meaning. Such
forward-looking statements are based upon the current beliefs and
expectations of our management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements.
In addition to factors previously disclosed in VPCC’s reports
filed with the SEC and those identified elsewhere in this
communication, the following factors, among others, could cause
actual results and the timing of events to differ materially from
the anticipated results or other expectations expressed in the
forward-looking statements: inability to meet the closing
conditions to the Business Combination, including the occurrence of
any event, change or other circumstances that could give rise to
the termination of the definitive agreement or the inability to
complete the Business Combination due to the failure to obtain
approval of Dave’s equity holders . The foregoing list of factors
is not exhaustive. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
“Risk Factors” section of VPCC’s final prospectus dated March 4,
2021 relating to its initial public offering, the Definitive Proxy
Statement/Prospectus, and other documents filed by VPCC from time
to time with the SEC. These filings identify and address, or will
identify and address, other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements.
Actual results, performance or achievements may differ
materially, and potentially adversely, from any projections and
forward-looking statements and the assumptions on which those
forward-looking statements are based. You are cautioned not to
place undue reliance on forward-looking statements as a predictor
of future performance as projected financial information and other
information are based on estimates and assumptions that are
inherently subject to various significant risks, uncertainties and
other factors, many of which are beyond our control. All
information set forth herein speaks only as of the date hereof in
the case of information about VPCC and Dave or the date of such
information in the case of information from persons other than VPCC
or Dave, and we disclaim any intention or obligation to update any
forward-looking statements as a result of developments occurring
after the date of this communication.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220104006070/en/
Dave Media press@dave.com Investors DaveIR@icrinc.com
VPC Impact Acquisition Holdings III, Inc. Media Jordan
Niezelski, Edelman jordan.niezelski@edelman.com Investors
vih3info@victoryparkcapital.com
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