NEW YORK, Aug. 11, 2020 (GLOBE NEWSWIRE) -- 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 firstname.lastname@example.org, 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
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