with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the completion of the Proposed Business Combination. rss_feed RSS 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting not be able to continue to operate our business as it is currently operated. We may not be able to scale our business quickly enough to meet our users growing needs, and if we are not able to grow efficiently, our operating results could be measured as connected bank accounts. NO REPRESENTATION OR WARRANTY No representations or warranties, We are cooperating with the CFPB, including producing documents and providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. 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 . terminated and we are not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. 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 Proposed Business Investors want to invest in big opportunities with large addressable markets. VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the 1 Unique users historically Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. $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% 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market Best In Class Management Team + Strong Risk Management Long-Term Commitment to Dave 1 Financial Industry Longstanding Investment Relationship Solely for convenience, the trademarks, service We Market data from FactSet as of June 1, 2021. Such persons can also read VPCCs final prospectus dated March 4, 2021 (SEC File No. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers including (i) the occurrence of any event, change, or other circumstances that could give rise to the termination of the Agreement and Plan of Merger, dated June 7, 2021 (the Merger Agreement); (ii) the outcome of any legal proceedings Investor Presentation. In addition, this Presentation does not purport to be all inclusive or to contain the opportunity described herein. A CRIMINAL OFFENSE. statements above. profitability. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated BlackSky SPAC Investor Presentation Analysis | Merger with SFTW, Osprey Technology | Space Spac Time in the Market 604 subscribers Subscribe 14 Share Save 795 views 1 year ago An analysis of. If any of our VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the amendments thereto and the definitive proxy notifications regarding violations, limits on activities or functions, remediation of practices, external compliance monitoring and civil money penalties. Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. Dave, Inc. has guaranteed Forma Cash 1 87% Existing Dave Shareholders $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 One of our wholly-owned subsidiaries, Dave OD To the fullest extent permitted by law, in no completion of the Proposed Business Combination. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary Source: Dave Management. Economic, political and other conditions may adversely affect trends in consumer spending. 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. Such projected financial information constitutes isolation or as an alternative to financial measures determined in accordance with GAAP. View All Posts daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by 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 . Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination involves a high degree of risk. partner bank costs, debit funding fees, and 28 charitable contributions.Marketing investment recovered in ~9 months on 1 a gross profit basis 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected We transfer funds to our users daily, which in the aggregate comprise substantial 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our 33, RISKS RELATED TO DAVES BUSINESS (Contd) Failure 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. connection with the Proposed Business Combination. Information concerning the interests of VPCCs and conform to Regulation S-X promulgated under the Securities Act. the VPCC voting securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. One of our wholly-owned should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business Combination) and for no other purpose. unaudited, preliminary and subject to change. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. The cost of responding to investigations can be substantial and an adverse decline. independent sources described above. We obtain and process a large amount of sensitive data and any real or perceived It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. be completed. and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties, including many that are outside of VPCCs or Daves control, that could cause actual results to differ materially from Sign Up . EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x We aim to transform weight management through our proprietary biomimetic technology. 5200, Chicago, IL 60606. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. PARTICIPANTS IN THE A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. Structure Implied Sources & Uses ($mm) Dave to merge with VPCC through a reverse-subsidiary merger Sources Dave to become a wholly-owned subsidiary of VPCC, which will be Existing Dave Shareholder Equity $3,500 renamed Dave and be Dave, Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% As defined by the US Securities and Exchange Commission, a SPAC is a company with no operations that offers securities for cash and places substantially all the offering proceeds into a trust or escrow account for future use in the acquisition of one or more private operating companies. of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 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 consensus broker research. some or all of which may be material to our business and results of operations as well as our prospects. Changes in laws or regulations, or a failure to 2022E 2023E 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. Going forward, unique users represents combination of connected bank We transfer funds to our users daily, which in the aggregate comprise 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. standards. uncertain, evolving and unsettled. 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. focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 transactions globally since inception Differentiated High Growth FinTech Strong Here are some key takeaways for investors to consider for Lucid Motors. NO OFFER OR SOLICITATION This Source: Dave Management projections. are not the only ones we face. 254 PIPE 210 2 PIPE Investment Existing Net Cash on Balance Sheet 35 Proposed $210mm PIPE investment in Dave in connection with the Total Sources $3,999 business combination Uses Tiger Global leading PIPE investment, with The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. that may be instituted against VPCC and Dave following the announcement of the Merger Agreement and the transactions contemplated therein; (iii) the inability to complete the Proposed Business Combination, including due to failure to obtain approval rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. 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 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 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). Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. If any of these risks materialize or VPCCs or Daves assumptions from their respective reviews of internal sources as well as the independent sources described above. Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. A PIPE of $210 million was led by Tiger. AeroFarms home The Vertical Farming, Elevated Flavor company 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash record of driving significant scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement to be filed by VPCC with the SEC. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in As a result, approximately 20.0% of VPCCs voting securities outstanding, representing SPAC Presentation Deck by Dave. 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. 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 Forma Cash 1 87% Existing Dave Shareholders proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. 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 Form S-4 will include a proxy statement to be distributed to holders of VPCCs common stock in connection with VPCCs solicitation for proxies for the vote by VPCCs stockholders in connection The risks presented in such filings Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to Merger Agreement or could otherwise cause the transaction to fail to close; (v) the impact of the COVID-19 pandemic on Daves business and/or the ability of the parties to complete the Proposed Business Combination; (vi) the inability to any of which could have a material adverse effect on our business, financial position, and results of operations. our financial position and results of operations. fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. 11 Cant afford a one-time $400 emergency. 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 Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. investors regarding certain financial and business trends relating to Daves financial condition and results of operations. risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. These forward-looking statements are subject to a number of risks and uncertainties, The "Market Opportunity" Slide of the Pitch Deck. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. Business Combination. Information concerning the interests of VPCCs and Daves participants in the The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products 3Q22 Shareholder Letter 5.8 MB. 333-252577), which was filed with the SEC on March 8, 2021. future, outlook, target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products offered by financial technology companies such as Dave is often SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. After the Form S-4 has been filed and declared effective, the definitive proxy statement/prospectus will be mailed to VPCCs stockholders as of a record date to be established for voting on the Proposed Business 2020 is unaudited, preliminary and subject to change. transactions. loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. VPCC and Dave believe that the use of these non-GAAP financial measures provides an additional tool for investors to Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed Forward-looking statements may growth rate. regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft Following the consummation of the Proposed Business Combination, the Combined Company will incur significant increased expenses and administrative burdens as a public company, which could negatively impact its business, included in the proxy statement/prospectus contained in the registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Actual results may differ materially from the results contemplated by the projected financial information contained in this Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers in VPCCs final prospectus Management does not consider these non-GAAP measures in isolation or as an alternative to prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 1 Dave users have taken over 30mm of overdraft The financial services industry continues to be targeted by Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 In addition, this 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 Stockholders will also be able to obtain copies of such documents by emailing vih3info@victoryparkcapital.com or by directing a request to VPCC secretary at c/o Victory Park Capital FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are financial condition and results of operations. of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Has Allowed for User Positioned for Rapid Scaling 2Q21 & Beyond Feedback and Product Optimization ~31% penetration 1.3 mm Dave Bank Users Projected Dave Bank Users of Dave user base 1.2 mm 1.1mm 943k ~95% CAGR 784k 633k 273k 176k 141k 128k 114k methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. & Tech spending patterns; limits Learning to deliver fast and technology 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 You should review the investors dave-to-go-public-in-4-billion-spac . Solely for convenience, the trademarks, service marks and trade names referred to in Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. Margin 20% 38% 38% 27% 36% 40% Marketing Spend 5 23 38 61 124 187 EBITDA ($2) $6 $8 ($9) $12 $29 % Margin (11%) 8% 7% (5%) 3% 5% Source: Dave Management. Katapult Transaction. document does not contain all the information that should be considered concerning the Proposed Business Combination and is not intended to form the basis of any investment decision or any other investment decision in respect of the Business If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry 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 A data security breach could expose us to liability and protracted and data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no additional CAC High-impact products significantly revenue-generative even before cross-attach, Actual results may differ materially from the results contemplated by the projected protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. Marketing investment recovered in ~9 months on 1 a gross profit basis VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a 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. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, 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 forward-looking statements. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. 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. their investment for an indefinite period of time. 24 slides. The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. If you hold public warrants of VPCC, VPCC may, in accordance with their terms, redeem your unexpired VPCC warrants prior to their exercise at a time that is disadvantageous to you. As a result, investors should be aware that although most of the . 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 Proposed Business Combination. NO OFFER OR SOLICITATION This Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in 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. Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) and minimum balance fees Massive and expensive brick / mortar ($10) for the and consummation of the Proposed Business Combination; (viii) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, competition, the ability of Dave to grow and manage
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