Green Dot Corporation to Merge with CommerceOne in Board-Approved Deal
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Green Dot Corporation is set to merge with CommerceOne Financial Corporation in a board-approved deal. The agreement involves restructuring Green Dot's operations, converting it into a limited liability company, and distributing Green Dot Bank's stock to a new CommerceOne subsidiary. Additionally, Green Dot's non-bank financial technology assets will be acquired by Green Dot OpCo, LLC, an affiliate of Smith Ventures, LLC. The board of directors of Green Dot has unanimously approved the agreement and related transactions.
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