The OLB Group, a merchant acquirer with a suite of payment services, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $9 million by offering 600,000 shares at an assumed price of $15, the last reported sale price of its shares on the OTC Pink. At that price, The OLB Group would command a fully diluted market value of $90 million.
The OLB Group was founded in 2004 and booked $10 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol OLB. Aegis Capital Corp. is the sole bookrunner on the deal.
