Business
Dolphin Entertainment, Inc. Announces Pricing of $8.3 Million Common Stock Registered Direct Offering Priced At-The-Market
MIAMI, FL / ACCESSWIRE / June 5, 2020 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading independent entertainment marketing and premium content
About this update from Dolphin Entertainment, Inc.
[{"type":"text","content":"MIAMI, FL / ACCESSWIRE / June 5, 2020 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading independent entertainment marketing and premium content development company, today announced that on June 5, 2020 it entered into a securities purchase agreement with several institutional investors for the issuance and sale of [7,900,000] shares of its common stock at a price of $1.05 per share, for aggregate gross proceeds of approximately $8.3 million, in a registered direct offering.Maxim Group LLC is acting as sole placement agent for the offering.The offering is expected to close on or about June 9, 2020, subject to the satisfaction of customary closing conditions.The securities described above are being offered by Dolphin Entertainment, Inc. pursuant to a registration statement on Form S-3 (File No. 333-222847) previously filed and declared effective by the Securities and Exchange Commission (SEC) on February 12, 2018. The offering of the shares of common stock will be made only by means of a prospectus supplement that forms a part of the registration statement.This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by Dolphin Entertainment with the SEC. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 895-3745.About Dolphin Entertainment, Inc. Dolphin Entertainment, Inc. is a leading independent entertainment marketing and premium content development company. Through our subsidiaries 42West and The Door, we provide expert strategic marketing and publicity services to many of the top brands, both individual and corporate, in the entertainment and hospitality industries. The Door and 42West are both recognized global leaders in PR services for their respective industries and, in December 2017, the New York Ob...