OLB dips following $25M stock and warrants private offering

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• OLB Group (NASDAQ:OLB) has dropped -22.79% pre-market after announcing a $25M private placement with certain institutional investors.
• The offering is priced at-the market and will see the issuance of 4,545,455 common shares and warrants to purchase up to 4,545,455 common shares. The purchase price is set at $5.50 per share of common stock (or pre-funded warrant) and associated warrant.
• The warrants have a $6.50 per share exercise price, and may be exercised at any time prior to the five-year anniversary of the effective registration date.
• OLB will use net proceeds from the offering to fund investments and acquisitions of synergistic companies or technologies, expand and market current products and general corporate purposes.
• The offering follows a 87.36% surge in OLB's share price on November 2, 2021.