Dave Inc. Files 2024 10-K, Details Loan Facility Amendments
Ticker: DAVEW · Form: 10-K · Filed: Mar 4, 2025 · CIK: 1841408
Sentiment: neutral
Topics: 10-K, debt-financing, loan-amendment
TL;DR
Dave Inc. 2024 10-K is in. Loan facility with Victory Park Management amended. Check the details.
AI Summary
Dave Inc. filed its 2024 10-K on March 4, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly VPC Impact Acquisition Holdings III, Inc., operates in finance services. Key financial events mentioned include amendments to its Senior Secured Loan Facility with Victory Park Management, LLC, and details regarding its Founder Holder Earnout Shares Liability.
Why It Matters
This filing provides investors with a comprehensive overview of Dave Inc.'s financial performance and strategic decisions for the 2024 fiscal year, including significant debt facility adjustments.
Risk Assessment
Risk Level: medium — The filing details financial instruments and loan facilities, which inherently carry financial risks for the company and its investors.
Key Numbers
- 0.03125 — P3D (Likely related to a financial instrument or warrant value.)
Key Players & Entities
- Dave Inc. (company) — Filer
- VPC Impact Acquisition Holdings III, Inc. (company) — Former company name
- Victory Park Management, LLC (company) — Lender in Senior Secured Loan Facility
- 2024-12-31 (date) — Fiscal year end
- 20250304 (date) — Filing date
FAQ
What were the key terms of the Fourth Amendment to the Senior Secured Loan Facility with Victory Park Management, LLC?
The filing references the 'FourthAmendment' and 'SeniorSecuredLoanFacility' with 'VictoryParkManagementLlc' dated '2024-10-18', indicating specific amendments were made on this date, but the exact terms are not detailed in this excerpt.
What is the significance of the 'FounderHolderEarnoutSharesLiability'?
The filing mentions 'FounderHolderEarnoutSharesLiability' in the context of 'MeasurementInputRiskFreeInterestRateMember' as of '2024-12-31', suggesting it's a financial liability related to earnout shares whose valuation is influenced by risk-free interest rates.
What was the company's retained earnings as of December 31, 2023?
The filing references 'us-gaap:RetainedEarningsMember' for '2023-12-31', indicating that retained earnings data for that date is present in the full document.
When was the Senior Secured Loan Facility with Victory Park Management, LLC initially established?
The filing indicates the 'SeniorSecuredLoanFacility' with 'VictoryParkManagementLlc' was established on '2021-01-31'.
What is the context for 'us-gaap:DevelopedTechnologyRightsMember'?
The filing references 'us-gaap:DevelopedTechnologyRightsMember' for the period '2024-01-01' to '2024-12-31', suggesting it pertains to the company's developed technology assets during the 2024 fiscal year.
Filing Details
This Form 10-K (Form 10-K) was filed with the SEC on March 4, 2025 regarding Dave Inc./DE (DAVEW).