The OLB Group, a merchant acquirer with a suite of payment services, raised $6 million by offering 0.7 million units at $9, below the July 28 sale price of its shares on the OTC Pink ($10.40). Each unit consists of one share of common stock, two Series A warrants exercisable at $9.00, and one-half of a Series B warrant exercisable at $4.50. Because the company offered units with warrants attached, OLB Group will be excluded from Renaissance Capital's stats.
The OLB Group plans to list on the Nasdaq under the symbol OLB. Aegis Capital Corp. acted as a lead manager on the deal.
