Dave Gets Approval On SPAC, To Start Trading Thursday
Los Angeles-based banking app developer Dave will start trading on the Nasdaq Global Market as DAVE, starting Thursday, January 6th, after stockholders of VPC Impact Acquisition Holdings III approved the deal to merge with Dave in a SPAC deal. The acquisition by a special purpose acquisition company (SPAC) is the latest in a long line of transactions which have taken technology companies to the public markets, without the traditional initial public offering (IPO). VPC Impact Acquisition Holdings III is affiliated with debt and equity investor Victory Park Capital. Dave says it currently has more than 11 million customers using its banking app.