Current Report Filing (8-k)
March 12 2021 - 8:00AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 8, 2021
THE OLB
GROUP, INC.
(Exact name of registrant as specified in
its charter)
Delaware
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000-52994
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13-4188568
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(State or other jurisdiction
of incorporation or organization)
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(Commission File
Number)
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(I.R.S. Employer Identification
Number)
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200
Park Avenue, Suite 1700, New York, NY
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10166
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(Address of principal
executive offices)
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(Zip Code)
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Registrant’s telephone number, including
area code: (212) 278-0900
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section
12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Common
Stock, $0.0001 par value
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OLB
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Nasdaq
Capital Market
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Item 8.01 Other Events.
On March 8, 2021, The OLB Group, Inc. (the
“Company”) furnished a press release announcing that it had completed an early payoff of its $7.7 million acquisition-related
senior term loan originated in April 2018 (the “Indebteness”). The Company used funds received from recently exercised
warrants to purchase the Company’s Common Stock, $0.0001 par value (the “Common Stock”) to repay the Indebtedness.
As a result of the exercise of the warrants, as of March 8, 2021, the Company had 7,114,774 shares of Common Stock issued and outstanding.
The forgoing description of the Press Release
does not purport to be complete and is subject to, and is qualified in its entirety by reference to, the full text of the Press
Release, which is attached as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: March 12, 2021
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THE OLB GROUP
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By:
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/s/ Ronny Yakov
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Name:
Title:
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Ronny Yakov
Chief Executive Officer
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