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Latham & Watkins Represents Placement Agents in PIPE in Connection with Dave’s Plans To Become Publicly Traded via Merger with VPC Impact Acquisition Holdings III, Inc.

June 7, 2021
Capital markets team advised on the PIPE.

Dave, the banking app on a mission to create financial opportunity that advances America’s collective potential, and VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC) (VPCC), a special purpose acquisition company sponsored by Victory Park Capital (VPC), has announced that they have entered into a definitive agreement for a business combination that will result in Dave becoming a publicly traded company listed under the ticker symbol “DAVE,” with an expected pro forma, fully-diluted equity value of approximately US$4 billion, assuming no redemptions. In connection with the deal, institutional investors committed US$210 million in a PIPE led by Tiger Global Management, with participation from Wellington Management and Corbin Capital Partners.

Latham & Watkins LLP represented the placement agents in the PIPE with a capital markets team led by New York partner Erika Weinberg, with New York associates Kathleen Mehary and Alistair Fatheazam.