secwatch.observer — SEC 8-K summary
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Issuer:     Dolphin Entertainment, Inc. (DLPN)
CIK:        0001282224
Form:       8-K
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001553350-23-000051
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dolphin Entertainment completes acquisition of Socialyte, files audited financials
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- Acquired Socialyte for $13M plus up to $5M earn-out; paid $5M cash, 1,346,257 shares, $3M promissory note
- Socialyte is a NY/LA creative agency specializing in social media influencer marketing campaigns
- Filed audited Socialyte balance sheets as of Dec 2021/2022 and unaudited nine-month statements through Sep 2022
- Socialyte reported net revenue of $4.6M and net income of $475k for nine months ended Sep 30, 2022
- Acquisition partly financed via $3M secured term loan from BankProv at 7.37% interest over five years

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1282224/000155335023000051/0001553350-23-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1282224/000155335023000051/dlpn_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-23-000051

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer