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Dave Launches 1-for-32 Reverse Stock Split - MarketWatch

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By Kathryn Hardison

Dave Inc.'s board of directors has approved a 1-for-32 reverse stock split of common stock.

The company disclosed the reverse stock split late Thursday, which went into effect at 5:01 p.m. ET. Trading will begin on a split-adjusted basis when the markets open Friday.

The goal of the reverse stock split is to increase the per-share market price of the company's common stock, Dave said. Based on Thursday's closing price, the implied post-split share price is about $9.44.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

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