trending Market Intelligence /marketintelligence/en/news-insights/trending/RbwcmE_sNx3xSfHtIF3Aaw2 content esgSubNav
In This List

OLB Group ups IPO amount, adds share purchase warrants

Blog

Fintech Intelligence Digital Newsletter: May 2021

Street Talk – Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Fintech Intelligence Digital Newsletter: April 2021

Podcast

Street Talk | Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs


OLB Group ups IPO amount, adds share purchase warrants

OLB Group Inc. will offer $8.0 million of common shares and also offer common share purchase warrants in its IPO.

The proposed maximum offering price of the payments facilitator's IPO is $18.0 million, up from $15.0 million, according to an amended filing. OLB Group said $10.0 million of common shares will be issued upon exercise of the warrants.

The warrants will expire on the fifth anniversary of issuance.

The company applied to list its common shares and common share purchase warrants on the Nasdaq Capital Market under the tickers OLB and OLBW.

OLB Group will use the net proceeds to repay up to 20% of its long-term debt. If its board decides not to use the proceeds to repay the debt, it will use them for working capital and other general corporate purposes instead.

ThinkEquity and Aegis Capital Corp. are underwriters of the IPO.