The OLB Group, Inc. Announces One-for-Ten Reverse Stock Split

Split to be effective May 6, 2024

NEW YORK, NY / ACCESSWIRE / May 2, 2024 / The OLB Group, Inc. (NASDAQ:OLB) ("OLB" or the "Company"), a FinTech company and a payment facilitator that, through our subsidiaries, focuses on a suite of products in the merchant services and payment facilitator verticals, today announced that that on April 26, 2024, its shareholders approved a reverse split of its common stock on a one-for-ten basis (the "Reverse Stock Split"). The Company's common stock will begin trading on a post-split basis on May 6, 2024.

As a result of the Reverse Stock Split, each ten (10) pre-split shares of common stock of the Company will be automatically combined into one (1) share of common stock without any action on the part of the holders, without any change in the par value per share or the number of authorized shares of the Company's common stock. Following the Reverse Stock Split, the Company's issued and outstanding common stock will be reduced from 18,103,462 shares to approximately 1,810,346. The Company's ticker symbol will remain "OLB". Additionally, the Company's common stock will trade under a new CUSIP number - 67086U406. The Reverse Stock Split is intended to increase the market price per share of the Company's common stock to allow the Company to maintain its Nasdaq listing.

No fractional shares will be issued as a result of the Reverse Stock Split and any fractional shares resulting from the reverse stock split were rounded down to the nearest number of whole shares so that we will issue cash in lieu of any fractional shares that such stockholder would have received as a result of the Reverse Stock Split.

Transfer Online, Inc. ("Transfer Online") is acting as the exchange agent and transfer agent for the reverse stock split. Transfer Online will provide instructions to stockholders with physical certificates regarding the optional process for exchanging their pre-split stock certificates for post-split stock certificates. Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the Reverse Stock Split. Please contact Transfer Online for further information at [phone].

Future OLB Press Releases and Updates

Interested investors or shareholders can be notified of future Press releases and Industry. updates by email: [e-mail]

For more information about The OLB Group, please visit https://www.olb.com and financial information https://investors.olb.com/