Company: GDOT
Filing Date: 2025-11-24
Form Type: 425
Source: 0001140361-25-043029
Chunk: 8

Company: GREEN DOT CORP
Filing Date: 2025-11-24
Form: 425
Chunk 8
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 approximately 72% of the new publicly traded bank holding company, and former CommerceOne shareholders will own approximately 28% of the company.                                |

| - | Smith Ventures will acquire Green Dot’s non-bank financial technology business assets and operations from CommerceOne for $690 million in an all-cash transaction. Of that purchase price, $470 million will be distributed to Green Dot 
 shareholders, while $155 million will be invested into the bank to provide additional regulatory capital and liquidity. Approximately $65 million will be used to pay off current indebtedness.                                          |

| - | The fintech and the combined bank holding company will enter into a seven-year commercial relationship pursuant to which the bank holding company will serve as the exclusive bank sponsor for the fintech’s digital banking and embedded 
 finance platform, with opportunity to grow market share and serve as sponsor bank to other partners going forward.                                                                                                                        |

| - | The implied value to shareholders of Green Dot is estimated to be approximately $14.23  - $19.18 per share (including $8.11 per share in cash) based on an assumed tangible book value multiple of approximately 1.00x-1.80x applied to 
 the combined bank tangible book value at closing. The implied aggregate value is estimated to be $825mm  - $1.1bn (including $470mm in cash).(1)                                                                                        |

**Founded in 2017, Smith Ventures specializes in identifying, strategically investing in and growing high-potential businesses. With deep expertise across financial services and consumer technology, the company has a proven track record of success in driving long-term growth and delivering exceptional customer experiences. “This is a pivotal step for Green Dot and CommerceOne, bringing together a world-class embedded finance leader and a well-capitalized, trusted bank,” said Bill Smith, CEO of Smith Ventures and a founding member of CommerceOne Financial’s board of directors. “With these transactions, we will drive sustainable value creation for all stakeholders. Combining Green Dot’s payments expertise and CommerceOne’s financial strength, we will be well-positioned to deliver exceptional experiences for customers, partners and employees.” Founded in 2018, CommerceOne Financial is the parent company of CommerceOne Bank, which combines relationship-driven banking with modern technology to meet the needs of commercial and private clients across the Southeast. The Bank focuses on strategic growth, maintaining strong asset quality and operational efficiency while expanding its market presence and product offerings. Kenneth Till, CEO of CommerceOne Financial Corp., added: “I believe this is