The OLB Group (OLB) Stock Plummets 11%: $6.1 Million Registered Direct Offering

Over the past month, the stock price has fallen. On Thursday, the price plunged from $6.07 to $5.51, shedding 9%. The next day, it surged to $5.69. On Monday, the cost dropped sharply to $5.33 but was able to recover to $5.6. On the same day, the cost began to slowly decrease and by Thursday it was worth $5.25. On August 18, it started to rise and now the trading price is $5.38.
OLB Group (OLB) declared that it has entered into definitive agreements with certain institutional investors for the sale of a total of 1,418,605 common shares at a purchase price of 4.30 US dollars per share within the registered direct offering (the “Offering”). It is expected that the gross revenues of the company amounted to about 6.1 million dollars without deducting placement agent fees and offering expenses payable by the Company. The Offering is expected to close approximately 23 August 2021, subject to the normal closing conditions.

The OLB Group is a payment intermediary and provider of commercial services, which provides cloud-based trading services for network and conventional organizations. OLB provides a seamless, end-to-end digital commerce solution that includes website creation, hosting, transaction processing and payment gateway, outbound marketing, sales reporting, order fulfillment, customer service, and fundraising.

Robert McDowney

Author

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