OLB Group Inc (NASDAQ:OLB) experienced a notable decline in its stock price, dropping 33.7% in premarket trading on Friday. This movement followed the company's announcement of a securities purchase agreement, under which it will sell common shares at a price markedly lower than the market's prior closing.
The deal involves the sale of 2,166,666 common shares at $0.60 each, aggregating approximately $1.3 million before the deduction of commissions and related expenses. This unit price is considerably reduced compared to the stock's recent trading levels, contributing directly to the investor selloff observed.
Beyond the share offering, OLB Group plans to issue warrants for the purchase of up to an equal number of shares (2,166,666) as part of a concurrent private placement. These warrants will have an exercise price of $0.78 per share, become exercisable six months following issuance, and maintain validity for five years.
D. Boral Capital LLC has been appointed as the exclusive placement agent for this transaction, which is projected to conclude on or about January 26, 2026, contingent on typical closing conditions.
OLB Group operates within the fintech sector, delivering payment processing and digital asset technologies. Its product suite includes the SecurePay payment gateway, facilitating multi-channel payment processing for businesses.