Dolphin Entertainment Acquires The Littlefield Company
Ticker: DLPN · Form: 8-K · Filed: Jul 11, 2024 · CIK: 1282224
Sentiment: neutral
Topics: acquisition, business-expansion, live-events
TL;DR
Dolphin Entertainment is buying The Littlefield Company to boost its live events business.
AI Summary
On July 9, 2024, Dolphin Entertainment, Inc. announced a definitive agreement to acquire 100% of the issued and outstanding equity interests of The Littlefield Company, LLC. The acquisition is expected to close in the third quarter of 2024 and will be funded through a combination of cash and stock. This move is anticipated to significantly expand Dolphin's capabilities in live events and experiential marketing.
Why It Matters
This acquisition is expected to bolster Dolphin Entertainment's presence in the live events and experiential marketing sectors, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — Acquisitions inherently carry risks related to integration, market reception, and financial performance, which could impact Dolphin Entertainment's stock.
Key Players & Entities
- Dolphin Entertainment, Inc. (company) — Acquiring company
- The Littlefield Company, LLC (company) — Acquired company
- July 9, 2024 (date) — Date of agreement
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the primary business of The Littlefield Company, LLC?
The Littlefield Company, LLC is involved in live events and experiential marketing.
How will Dolphin Entertainment fund this acquisition?
The acquisition will be funded through a combination of cash and stock.
When is the acquisition of The Littlefield Company expected to close?
The acquisition is expected to close in the third quarter of 2024.
What is the strategic rationale behind this acquisition for Dolphin Entertainment?
The acquisition is expected to significantly expand Dolphin Entertainment's capabilities in live events and experiential marketing.
What percentage of The Littlefield Company, LLC is Dolphin Entertainment acquiring?
Dolphin Entertainment is acquiring 100% of the issued and outstanding equity interests of The Littlefield Company, LLC.
Filing Stats: 518 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-07-11 07:00:08
Key Financial Figures
- $0.015 — ge on which registered Common Stock , $0.015 par value per share DLPN The Nasdaq
- $2,556,452 — received the second cash installment of $2,556,452 from its content licensing agreement re
- $3,421,141 — 4, the Company recorded net revenues of $3,421,141 from the Amazon Agreement upon delivery
- $777,905 — February 22, 2024, the Company received $777,905 from IMAX, as a first installment in co
Filing Documents
- dlpn_8k.htm (8-K) — 22KB
- 0001079973-24-001043.txt ( ) — 191KB
- dlpn-20240709.xsd (EX-101.SCH) — 3KB
- dlpn-20240709_lab.xml (EX-101.LAB) — 33KB
- dlpn-20240709_pre.xml (EX-101.PRE) — 22KB
- dlpn_8k_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On July 9, 2024, Dolphin Entertainment Inc. (the "Company") received the second cash installment of $2,556,452 from its content licensing agreement related to The Blue Angels. As previously announced, the Company entered into an agreement with IMAX Corporation ("IMAX") to co-produce and co-finance a documentary motion picture on the flight demonstration squadron of the United States Navy called The Blue Angels. On April 25, 2023, IMAX entered into an acquisition agreement with Amazon Content Services, LLC (the "Amazon Agreement") for the distribution rights of The Blue Angels. During the three months ended March 31, 2024, the Company recorded net revenues of $3,421,141 from the Amazon Agreement upon delivery of the film to Amazon Content Services LLC, our single performance obligation. On February 22, 2024, the Company received $777,905 from IMAX, as a first installment in connection with the Amazon Agreement. On July 9, 2024, the Company received the second cash installment.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DOLPHIN ENTERTAINMENT, INC. Date: July 11, 2024 By: /s/ Mirta A. Negrini Mirta A. Negrini Chief Financial and Operating Officer