OLB Group Closes $6.45 Million Public Offering Including Full Exercise of Warrant Overallotment Option
August 11 2020 - 3:32PM
The OLB Group, Inc. (“OLB,” or the “Company”),
fintech and payment facilitator, today announced the closing of its
previously announced underwritten public offering of 700,000 units
consisting of one share of common stock, two Series A warrants, and
one half of one Series B warrant. Aegis Capital has fully exercised
its option to purchase 210,000 Series A warrants and 52,500 Series
B warrants.
OLB received gross proceeds of approximately $6.45 million from
the offering, before deducting underwriting discount and estimated
offering expenses.
Aegis Capital Corp. is acting as sole bookrunner for the
offering.
This offering is being made pursuant to an effective
registration statement on Form S-1 (No. 333-232368) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective by the SEC on August 6, 2020. A final
prospectus describing the terms of the proposed offering has been
filed with the SEC and is available on the SEC's website located at
http://www.sec.gov.
Electronic copies of the final prospectus, when available, may
be obtained by contacting Aegis Capital Corp., Attention: Syndicate
Department, 810 7th Avenue, 18th floor, New York, NY 10019, by
email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.
Before investing in this offering, interested parties should read
in its entirety the prospectus, which provides more information
about the Company and such offering.
About The OLB Group, Inc. (OLB)
The OLB Group, Inc. is a payment facilitator and commerce
service provider that delivers fully outsourced private label
shopping solutions to highly trafficked websites and retail
locations. We provide end-to-end e-commerce, mobile and retail
solutions to customers. These services include electronic payment
processing, cloud-based multi-channel commerce platform solutions
for small to medium-sized businesses and crowdfunding services. The
Company is focused on providing these integrated business solutions
to merchants throughout the United States through three
wholly-owned subsidiaries, eVance, Inc., Omnisoft.io, Inc., and
CrowdPay.us, Inc.
OLB Group, Inc.’s common stock is traded on the NASDAQ Capital
Market under the stock symbol: OLB. Additional information about
the Company can be found at http://www.olb.com
Investors & Analysts Contact:
Ronny YakovChief Executive Officer(212) 278-0900ir@olb.com
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