Dave repurchases $100 million face value convertible notes from FTX for $71 million

Odaily News Dave Bank of the United States announced that it has reached an agreement with FTX Ventures Ltd. It plans to purchase a convertible promissory note with an original amount of US$100 million previously issued to FTX at a discounted purchase price of US$71 million. The completion of the transaction is also subject to bankruptcy court approval, and a hearing will be held on January 25, 2024. (prnewswire)