The card will take place in Oakland, CA on August 7. The undefeated Davis (6-0) will be part of the undercard that night.
Davis in two out three outings in the UFC defeated his opponents impressively by first round submissions.
Wallace on the other hand will be a heavy underdog with a 0-2 record in the octagon. Wallace received back-to-back unanimous decision losses, one by Jared Hamman and the other by Brian Stann. Stann notably recently suffered a unanimous decision loss to Davis.
UFC 117: “Silva vs. Sonnen” is set to be headlined by the middleweight title bout between Anderson Silva and Chael Sonnen. Also featured will be top welterweight contenders Jon Fitch and Thiago Alves along with another 170-pound showdown between Matt Hughes and Ricardo Almeida.