The OLB Group, Inc. (NasdaqCM:OLB) agreed to acquire Crowd Ignition, Inc. from Ronny Yakov and John Herzog for $11.3 million on October 25, 2021. OLB Group would purchase 100% of the equity of Crowd Ignition in exchange for 1.32 million shares of the common stock, par value $0.0001 of OLB Group. The value of the shares was, for purposes of the Agreement, based on the closing trading price of the Company on October 1, 2021 (the date on which a third-party fairness opinion was issued), resulting in an aggregate purchase price for Crowd Ignition of $5.3 million. Board of Directors of The OLB Group, Inc. approved entry by the Company into a share exchange agreement. The transaction is subject to execution of the agreement and customary closing conditions. The transaction is expected to close by the end of November 2021.

The OLB Group, Inc. (NasdaqCM:OLB) completed the acquisition of Crowd Ignition, Inc. from Ronny Yakov and John Herzog on January 3, 2022.