We advised the representatives of the initial purchasers on the offering

Davis Polk advised the representatives of the initial purchasers in a Rule 144A offering by Dave Inc. of $200 million aggregate principal amount of its 0% convertible senior notes due 2031, including $25 million aggregate principal amount of convertible notes pursuant to the full exercise of the initial purchasers’ option to purchase additional convertible notes. In addition, Davis Polk advised the counterparties to capped call transactions entered into in connection with the offering. Dave’s common stock is listed on Nasdaq under the symbol “DAVE.”

Dave is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents.

The Davis Polk capital markets team included partner Roshni Banker Cariello and associate Sierra M. Acosta. The equity derivatives team included partner Mark M. Mendez, counsel Katharine O’Banion and associates Danielle Forni, Erik Oakley and Jessica Carter. The tax team included partner Aliza Slansky and associates Bradford Sherman and Alex (Ang) Gao. All members of the Davis Polk team are based in the New York office.

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