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Dave Eyes Public Markets, Expects To Be Public By January Via SPAC

Los Angeles-based fintech startup Dave says it expects an acquisition by special purpose acquisition company (SPAC), VPC Impact Acquisition Holdings III to occur in January, after approval of a special proxy by VPCC. According to the company, if approved, the deal will make Dave a publicly traded company on the Nasdaq Global Market, trading under the ticker symbol DAVE. The company said institutional investors have committed $210M in a PIPE, led by Tiger Global Management, with participation from Wellington Management, Corbin Capital Partners and Alameda Research, after the close of the deal. Dave is led by CEO Jason Wilk. The app developer says it helps customers budget, avoid overdraft fees, find work and build credit.