other material
confidence high
sentiment neutral
materiality 0.55
Dolphin Entertainment enters up to $25M equity purchase agreement with Lincoln Park Capital
Dolphin Entertainment, Inc.
- Company may sell up to $25M of common stock over 36 months at its discretion, subject to conditions.
- Initial commitment fee of 51,827 shares issued; up to 37,019 additional commitment shares possible.
- Regular purchases capped at 50,000 shares/day (75k if price >$10; 100k if >$12.50); purchase price based on recent lows.
- Accelerated purchases allowed up to 3x regular amount or 30% of daily volume at a 4% discount.
- Proceeds expected for working capital and general corporate purposes; no financial covenants or restrictions on future financings.