secwatch.observer — SEC 8-K summary
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Issuer:     OLB GROUP, INC. (OLB)
CIK:        0001314196
Form:       8-K
Filed at:   2021-11-30T23:59:59+00:00
Accession:  0001213900-21-062606
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OLB Group acquires CBD merchant portfolio from FFS Data for $20M in cash and escrow
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- OLB pays $16M at closing, $2M in 6 months, and $2M in escrow subject to revenue attrition adjustment.
- Acquisition includes merchant accounts, customer lists, IP, and residuals from Oct 1, 2021.
- 10-year non-compete and non-solicitation covenant against seller and its principals.
- Total consideration of $20M; escrow funds released after 1 year based on revenue shortfall threshold of 20%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1314196/000121390021062606/0001213900-21-062606-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1314196/000121390021062606/ea151441-8k_theolbgroup.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-062606

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