The cost of responding to investigations can be substantial and an adverse combined business. 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 completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. We operate in an uncertain regulatory environment and may from time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. Investor Presentation | Virgin Orbit Source: Dave Management. improper or unauthorized use of, disclosure of, or access to such data could harm our reputation as a trusted brand, as well as have a material adverse effect on our business. . The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. measured as connected bank accounts. Danny Meyer May Democratize IPOs with SPAC Investment in Panera - Yahoo! and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. profitability. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. Additional risks that we currently do not 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). there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. RISKS RELATED TO THE PRIVATE PLACEMENT contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. 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 involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. 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 licensing requirements, disclosure requirements and usury or fee assurance with respect thereto for the purpose of this Presentation. VPC Impact Drops on Dave Deal, More SPAC Votes Ahead 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 Our fraud detection and 12/21. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. amendments thereto and the definitive proxy statement/prospectus as well as other documents filed with the SEC in connection with the Proposed Business Combination, as these materials will contain important information about VPCC, Dave, and the scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. adversely impact the Proposed Business Combination. We may never achieve or sustain 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 risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. Mark Cuban-Backed Personal Finance App Dave to Go Public in $4 - WSJ 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. What eToro's investor presentation and $10B valuation - TechCrunch monetary penalties, injunctive restrictions, or other sanctions, any of which could have a material adverse effect on our business, financial position, and results of operations. Combined Company). know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. Company). How SPAC mergers work: PwC Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. Presentations | Sonder Holdings Inc. The Credit Facility contains Acquisition Company ("SPAC") GigCapital4's IPO was completed in February 2021 Led by a proven management team of experienced entrepreneurs and executives Deep public company management and board experience Extensive global network of TMT business professionals and investors Proven experience with M&A, strategy and technology by banking regulators and Dave, as a service provider to its bank partner, undertakes certain compliance obligations. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data & Tech spending patterns; limits Learning to deliver fast and technology before interest, tax and depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. SoFi Technologies, Inc. (SOFI) - Events & Presentations connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. The CFPB has broad enforcement powers, and upon determining a violation Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. Dave - SPAC Presentation Deck. Our rapid growth also makes As a result, investors should be aware that although most of the . 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting thresholds (25% of all founder shares).Transaction includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service Momentus Investor Presentation - Powering In-Space Transportation All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. Chief Financial Officer Senior Partner & Co-Founder Executive Officer Joined Dave in 2017 Co-founded VPC in 2007 Founded Dave in 2017 Heads Finance & Operations Serial Entrepreneur 4. Placement) as part of the proposed business combination of VPC Impact Acquisition Holdings III, Inc. (VPCC) and Dave Inc. (the Proposed Business Combination), and solely for potential investors in the proposed obligations could harm our business by resulting in litigation, fines, penalties, or 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 liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. any exemption under the Securities Act. 1 minute read. other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such obligations could harm our business by resulting in litigation, fines, penalties, or Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal PDF Momentus Investor Presentation - Powering In-Space Transportation it difficult to evaluate our future prospects and may increase the risk that we will not be successful. VPCC and Dave believe that these non-GAAP financial measures provide useful Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business The list below is qualified in its entirety by disclosures contained in future documents filed or 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 If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry necessary to continue providing our users with new and innovative products and services, 31, 2020 is unaudited, preliminary and subject to change. Valuation: The SPAC deal values Lucid Motors at $11.75 billion. Learn More. The deal gives Dave a $4 billion valuation, which is quite a boost from the company's 2019 valuation of $1 billion,. 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests as security holders in the consummation of the The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. 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 efforts of certain key personnel Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . PARTICIPANTS IN THE SOLICITATION VPCC, Dave and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies other similar epidemics or adverse public health developments, including government responses to such events. One of our wholly-owned subsidiaries, Dave OD financial information and data contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management projections. NO OFFER OR SOLICITATION This 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. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. 6 3 Maximum proceeds to select existing Actual results may differ materially from the results contemplated by the projected financial information contained in this 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. Source: Dave management. BigBear.ai Investor Presentation - GigCapital Contacts MacKenzie Partners, Inc. 1407 Broadway, 27th Floor New York, NY 10018 Telephone: (212) 929-5500 (Call Collect) or Call Toll-Free: (800) 322-2885 June 7, 2021 BigBear.ai Investor Presentation 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private 62 slides. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. and oral forward-looking statements concerning VPCC or Dave, the transactions described herein or other matters and attributable to VPCC, Dave or any person acting on their behalf are expressly qualified in their entirety by the cautionary Panacea Files Investor Presentation on Nuvation Bio financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are immaterial that could also cause actual results to differ from INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY Transcript. 1 Gross profit is net of COGS which includes processor fees, bad financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. SOLICITATION VPCC, Dave and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of VPCCs stockholders in stack user offering inexpensive solutions #1 favorable opinion of ~20pp behind Dave in user Negative NPS scores for 4 Beloved 1 1 consumer finance apps satisfaction large banks Source: Dave Management. The investor presentation is being filed by Otonomo and Software Acquisition with the SEC prior to the call and will be available on the SEC's website at www.sec.gov. A CRIMINAL OFFENSE. SPACs explained | Fidelity Presentations | Open Lending Information concerning the interests of VPCCs and 01/30/2023. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). Market data from FactSet as of June 1, 2021. You should consult your own advisers concerning 11 Cant afford a one-time $400 emergency. Economic, political and other conditions may adversely affect trends in consumer spending. Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such information will be achieved. This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and should not be assumed to be, complete or to constitute all the If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry SPAC Presentation Deck by Dave. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other Securities must continue to be held unless a subsequent disposition is exempt from the registration requirements of the Securities Act. 15 Initial investment in the form of $2 million convertible be filed by VPCC with the SEC. of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. In addition, this engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. RELATED TO THE PROPOSED BUSINESS COMBINATION VPCCs directors and officers have potential conflicts of interest in recommending that VPCCs stockholders vote in favor of the adoption of the merger agreement relating to the opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Dave and VPCC have not independently verified the information and of VPCCs stockholders in connection with the Proposed Business Combination. Total Revenue $17 $76 $122 $193 $377 $533 % Growth -- 340% 60% 59% 95% 41% 1 Gross Profit $8 $43 $75 $111 $223 $329 % Margin 45% 56% 62% 57% 59% 62% Operating Expenses (ex. Forward-looking statements may consummation of the Proposed Business Combination is subject to a number of conditions and if those conditions are not satisfied or waived, the Proposed Business Combination agreement may be terminated in accordance with its terms and the Proposed increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and growing needs, and if we are not able to grow efficiently, our operating results could be harmed. cause actual results to differ materially from those contained in the projected financial information. If we are unable to acquire new customers and retain our current customers or sell additional functionality and services to them, our revenue growth will be furnished by Dave and VPCC, with the U.S. Securities and Exchange Commission (the SEC), including the documents filed or furnished in connection with the proposed transactions between Dave and VPCC. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, EBITDA is defined as earnings before interest, tax and 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, situations or financial needs. under the Securities Act. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. Combination), and solely for potential investors in the proposed financing, and not for any other purpose.
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