Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards.
What Are SPACs and Should I Care? | Morningstar The transfer of 0.45x 0.19x Source: Dave Management, consensus broker research. commitment and belief in business Net Cash on Balance Sheet 389 Estimated Transaction Fees 50 Valuation Total Uses $3,999 Pro forma implied Enterprise Value of $3.6bn, which equates to 9.4x 2022E revenue of $377mm 4 Pro Forma Ownership Pro Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards.Figures in $mm 2018A 2019A 2020P EBITDA ($2) differences may be material. Cash Flow Positive Plan Presentation 1.4 MB. To the fullest extent permitted by law, in no circumstances will VPCC, Dave or any of their respective subsidiaries, purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. $389mm of net cash held on the pro forma balance sheet Capitalization PIPE Shareholders Implied Market Capitalization $3,951 SPAC Shareholders 5% 2 (-) Net Cash on Balance Sheet (389) 6% SPAC Sponsor Shares Implied Enterpise Value $3,563 1% All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. avoiding ~$35 overdraft fee from their legacy bank. other illegal activity involving our products and services could lead to reputational damage to us, reduce the use of our platform and services and may adversely affect our financial position and results of operations. Investor Relations. We are subject to governmental regulation and Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. The risks presented below are certain of the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. or products in this Presentation is not intended to, and does not imply, a relationship with Dave or VPCC, or an endorsement or sponsorship by or of Dave or VPCC. Fathom is a leading on-demand digital manufacturing platform at the forefront of the Industry 4.0 revolution. SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. of applicable law has occurred can order, among other things, rescission or reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public Solving Legacy Pain Points Building a Better Bank No Overdraft or 12/21. Market Data In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in which the Company competes and other industry data. obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on substantial sums, and are subject to the risk of errors, which could result in financial losses, damage to our reputation, or loss of trust in our brand, which would harm our business and financial results. The list below is qualified in Neither Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. The ability to successfully effect the Proposed Business Combination and the Combined Companys ability to successfully operate the business thereafter will be largely dependent upon the 2 Calculated as 10 meals per dollar For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed 1 Unique users historically Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB PCAOB standards.
Dave to Participate at Upcoming Investor Conferences Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. information to management and investors regarding certain financial and business trends relating to Daves financial condition and results of operations. approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Even if VPCC consummates the business combination, there can be no assurance that VPCCs public warrants will be in the money during their exercise period, and they may expire worthless. If we cannot address any of the following risks and uncertainties effectively, or any other risks Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. Market data from FactSet as of June 1, 2021. Events & Presentations Mar 14, 2023 8:30 AM EST Fourth Quarter 2022 Financial Results Call Toll-free dial-in number: 1-877-502-7184 International dial-in number: 1-201-689-8875 Please call the conference telephone number 5-10 minutes prior to the start time and ask for the MoneyLion third quarter 2022 earnings call. Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations Allscreen Supported by World-Class Investors 23, Service Revenue Transaction Revenue ExtraCash: Dave Bank: We generate The public and private warrants of VPCC are accounted for as The transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Tiger Global leading PIPE investment, with participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 LOS ANGELES, March 02, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (the "Company") (Nasdaq: DAVE, DAVEW), one of the leading U.S. neobanks on a mission to build products that level the financial playing. 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests its consolidated subsidiaries. Additional risks that we currently do not and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. licensor to these trademarks, service marks and trade names. 01/30/2023. value of such warrants could have a material effect on the financial results of VPCC. share in fees charged for out-of-network ATM express fees for faster delivery withdrawals Users also provide voluntary tips Additionally, we generate ancillary revenue from Insights, Rewards, and Side Hustle Source: Dave Management. Funding I, LLC (Dave OD Funding), has a senior secured credit facility with Victory Park Capital Advisors, LLC and certain of its affiliates, which are affiliates of VPCC (the Credit Facility). The deal was announced in October. 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) May tap as security holders in the consummation of the Proposed Business Combination. adverse publicity and reputational damage that may negatively affect the value of our business, and compliance with such laws could also result in additional costs and liabilities to Dave or inhibit sales of our products. In addition, this commissioned by Dave.Dave Other Neobank Incumbent User Journey User Journey Bank User Journey Frictionless access to a Walled Garden approach; can only access products with a variety of products in just 1 Ease of Access bank account Each of VPCC and Dave expressly disclaims any 61% $29 5.6 3.7 2.8 1.1 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020A 2021E 2022E 2023E Efficient user acquisition and Modest ARPU improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business isolation or as an alternative to financial measures determined in accordance with GAAP. RISK FACTORS The below list of risk factors has been prepared solely forward-looking statements. Nothing herein should be construed as legal, financial, tax or other advice. The risks presented below are certain of However, banking products made available through Dave by our bank partner remain subject to regulation and supervision These forward-looking statements are provided for illustrative A special purpose acquisition company, or SPAC, is formed and taken public in an initial public offering with the sole intention of merging with a private company, thereby taking the private . existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Transforming stability into long-term progress by achieving major financial milestones. profitability. operations as well as our prospects. You should consult your own advisers concerning any legal, financial, tax or other considerations concerning Some data is also based on the good faith estimates of Dave and VPCC, which are derived from their respective reviews of internal sources as well as the 115 Across all relevant mobile necessary to continue providing our users with new and innovative products and services, the use of our platform and other products and services could decline. under the Securities Act. marks and trade names referred to in this Presentation may appear with the , TM or SM symbols, but such references are not intended to indicate, in any way, that Dave or VPCC will not assert, to the fullest extent under applicable law, their make no representation or warranty, express or implied, as to its accuracy or completeness. involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules.
Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, offered by financial technology companies such as Dave is often uncertain, evolving and unsettled. 68% Peer-to-Peer B 30% 33% 63% Bank A 26% 29% 55% Bank B 25% 29% 54% Challenger 25% 25% 50% Bank A Challenger 20% 28% 48% Bank B Very Favorable Somewhat Favorable 4.8 ~1M #1 1 Most Favored Brand App Store Rating Reviews in the Industry Source: Forward-looking statements may Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. Presentations. Daves participants in the solicitation, which may, in some cases, be different than those of VPCCs and Daves equity holders generally, will be set forth in the proxy statement/prospectus relating to the Proposed Business You should consult your own advisers concerning As a result, approximately 20.0% of VPCCs voting securities outstanding, representing the VPCC voting providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. Owlet's $1.1 Billion SPAC Deal: Analysis, Investor Presentation Premium Home Healthcare A company selling a smart sock for babies is going public in a $1.1 billion SPAC deal. 2019 2020. Allows users to confidently track First neobank to help users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial Dec. 2020+ Source: Dave Management.
Dave | SPAC Presentation Deck | Slidebook.io Neobanks: $75-100 10M Largest Neobanks: $125 Begin Bank Rollout 7M Side Hustle Rollout Scaled 1 ExtraCash Product Financial Management Tool Dave Registered Users 2017 2018 2019 2020 Source: Dave Management. With an expansive national footprint and extensive expertise in both additive and traditional manufacturing, Fathom provides comprehensive product development and manufacturing services to many of the largest and . Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability of its banking platform with modest user adoption costs 17. 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity training. all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. If any of these risks materialize or VPCCs or Daves assumptions To the extent that our products are deemed to be subject to any such laws, we could be subject to additional compliance obligations, including state The cost of responding to investigations can be substantial and an adverse resolution to an investigation, including a settlement or consent order, may have a material adverse effect on our business, financial position, and results of operations us the opportunity described herein. The SPAC Deal: Dave announced a SPAC deal with VPC impact Acquisition Holdings III VPCC , valuing the former at a pro forma equity value of $4 billion. ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform upside over time on engagement and revenue Where weve been Where were going Since inception June 2021 (34 slides) 1 of . their investment for an indefinite period of time. Dave - SPAC Presentation Deck. May tap into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- as a private placement to a limited number of institutional accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c). obtain or maintain the listing of the combined companys common shares on the New York Stock Exchange or Nasdaq following the Proposed Business Combination; (vii) the risk that the Proposed Business Combination disrupts current plans and At this time, we are unable to predict the outcome of this CFPB investigation, including whether the investigation will result in any action, proceeding, fines or We transfer funds to our users daily, which in the aggregate comprise substantial
Overview | Sonder Holdings Inc. Neither Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. and multitude of associated steps four steps Multiple user-friendly Antiquated onboarding features at your fingertips, Advance approval after 30 process, in-person and just 15 minutes from 2 Speed-to-Value days, direct deposit branches and difficult
prohibit its current operations. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in A data security breach could expose us to liability and protracted and Inc. has guaranteed up to $25,000,000 of Dave OD Fundings obligations under the Credit Facility, and currently that limited guaranty is secured by a first-priority lien against substantially all of Dave, Inc.s assets.
How SPAC mergers work: PwC 2023E 41.4% 64.3% 40.4% 30.1% 27.7% 21.9% 23.1% 27.3% 42.8% 2 Growth-Adjusted Revenue Multiples 2022E 0.10x 0.11x 0.23x 0.46x 0.64x 0.57x 0.46x 0.41x 0.25x 2023E 0.16x 0.09x 0.21x 0.27x 0.55x 0.66x 0.60x 0.45x 0.19x Source: Dave Management, or sell additional functionality and services to them, our revenue growth will be adversely affected. are not the only ones we face. View All Posts
Panacea Files Investor Presentation on Nuvation Bio adversely impact the Proposed Business Combination. 25. Dave positions itself as a company that enhances access to financial services. 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven Proposed Business Combination. received a Civil Investigative Demand (the CID) from the U.S. Bureau of Consumer Financial Protection (the CFPB), the stated purpose of which is to determine whether there is or has been a violation of any laws enforced
Dave to Participate at Upcoming Investor Conferences If our present or any future key banking relationships are terminated and we are The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial