OLB Group announces 1:10 reverse stock split effective May 6, 2024

OLB GROUP, INC.

Shareholders approved reverse stock split at special meeting on April 26, 2024.
Every 10 pre-split shares become 1 share; outstanding shares reduce from 18,103,462 to approx. 1,810,346.
Reverse split intended to increase share price to maintain Nasdaq listing; ticker remains OLB.
No fractional shares issued; cash in lieu; new CUSIP 67086U406.
Common stock begins trading on post-split basis from May 6, 2024.

item 5.03 item 5.07 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

OLB GROUP, INC.: One-for-ten reverse stock split of common stock via Certificate of Amendment (effective 2024-04-26).

Change: charter amendment
Effective: 2024-04-26

Exact text from the filing

The OLB Group, Inc. (the “Company”) filed with the Delaware Secretary of State a Certificate of Amendment to Certificate of Incorporation (the “Certificate of Amendment”) which became effective on April 26, 2024 to effect a one-for-ten (1:10) reverse stock split (the “Reverse Stock Split”) of the shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”)

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

OLB GROUP, INC. shareholders approved Approve the Amendment to the Company's Certificate of Incorporation.

Proposal: charter amendment
Outcome: passed

Exact text from the filing

At the Annual Meeting the stockholders of the Company approved the four proposals listed below. The final results for the votes regarding each proposal are set forth in the following tables. Each of these proposals is described in detail in the Company’s Proxy Statement. 1. Approve the Amendment to the Company’s Certificate of Incorporation. FOR AGAINST ABSTAIN BROKER NON-VOTE 9,839,680 1,476,774 51,151 0

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OLB GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-038883

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