OLB Group prices $3 million private placement at $1.05 per share

The OLB Group Inc. (NASDAQ: OLB) announced it has entered into a securities purchase agreement with an institutional investor for a private placement expected to generate approximately $3.0 million in gross proceeds.

The fintech company will issue 2,857,142 shares of common stock or prefunded warrants at a combined purchase price of $1.05 per share, along with warrants to purchase up to 3,571,428 additional shares. The warrants carry an exercise price of $0.92 per share and will have a five-year term from the effectiveness of a resale registration statement.

As part of the agreement, OLB will reduce the exercise price of certain outstanding warrants held by the investor from previous issuances on August 23, 2021 and November 8, 2021 to $0.92 per share and extend their terms by three years.

The closing is expected to occur on or about February 19, 2026, subject to customary closing conditions. D. Boral Capital LLC serves as the exclusive placement agent for the offering.

The securities are being offered through a private placement under exemptions from Securities Act registration requirements. OLB has agreed to file a registration statement with the Securities and Exchange Commission to register the common stock and shares underlying the warrants.

OLB provides payment processing solutions, digital asset technology, and omnichannel commerce platforms through its SecurePay payment gateway and related services.

You May Also Be Interested In

• enVVeno Medical (NVNO) files $100M mixed shelf
• Werewolf Therapeutics to merge with Ambros in $150M private placement
• QSE closes $6M private placement with final tranche of $674K