secwatch.observer — SEC 8-K summary
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Issuer:     OLB GROUP, INC. (OLB)
CIK:        0001314196
Form:       8-K
Filed at:   2021-11-03T23:59:59+00:00
Accession:  0001213900-21-056329
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OLB Group raises $25M via private placement of common stock and warrants
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- Gross proceeds of ~$25M from sale of 4.5M shares/pre-funded warrants and warrants at $5.50/unit.
- Warrants exercisable at $6.50/share for 5 years from registration effective date.
- Net proceeds ~$23M for acquisitions, marketing, working capital, and general purposes.
- Placement agent H.C. Wainwright receives 7.5% cash fee and warrants at $6.875.
- CEO subject to lock-up for 60 days post-registration; company restricted from variable rate transactions for 1 year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1314196/000121390021056329/0001213900-21-056329-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1314196/000121390021056329/ea149868-8k_theolbgroup.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-056329

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer