Current Report Filing (8-k)

Date : 10/21/2019 @ 8:38PM
Source : Edgar (US Regulatory)
Stock : Dolphin Entertainment Inc (DLPN)
Quote : 0.68  -0.03 (-4.23%) @ 5:00AM
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Current Report Filing (8-k)





Washington, D.C. 20549





Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): October 17, 2019


Dolphin Entertainment, Inc.

(Exact Name of Registrant as Specified in its Charter)





(State or Other Jurisdiction


(IRS Employer

of Incorporation)

File Number)

Identification No.)

2151 Le Jeune Road, Suite 150-Mezzanine

Coral Gables, FL 33134

(Address of Principal Executive Offices) (Zip Code)

(305) 774-0407

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:  

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.015 par value per share


The Nasdaq Capital Market

Warrants to purchase Common Stock,
$0.015 par value per share


The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ¨


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨





Item 1.01

Entry into a Material Definitive Agreement


On October 17, 2019, Dolphin Entertainment, Inc., a Florida corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with Maxim Group LLC (the “Underwriter”), relating to an underwritten public offering of 2,700,000 shares of the Company’s common stock, par value $0.015 per share (“Common Stock”). The offering closed on October 21, 2019, and the net proceeds to the Company from the offering were approximately $1.97 million, after deducting the Underwriter’s discount and before deducting estimated offering expenses payable by the Company.


Pursuant to the Underwriting Agreement, the Company granted to the Underwriter the option, exercisable for a period of 45 days, to purchase up to 405,000 shares of Common Stock to cover overallotments, if any.


The offering is being made pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-222847) previously filed with the Securities and Exchange Commission (“Commission”), including the prospectus dated February 2, 2018, as supplemented by a preliminary prospectus supplement filed with the Commission on October 16, 2019 and a final prospectus supplement filed with the Commission on October 21, 2019.


The Underwriting Agreement contains representations, warranties and covenants of the Company that are customary for transactions of this type and customary conditions to closing. Additionally, the Company has agreed to provide the Underwriter with customary indemnification rights under the Underwriting Agreement. The foregoing description of the Underwriting Agreement is qualified in its entirety by reference to the complete text of the Underwriting Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits






Underwriting Agreement, dated October 1, 2019, by and between the Company and Maxim Group LLC



Opinion of Morrison & Foerster LLP



Consent of Morrison & Foerster LLP (included in Exhibit 5.1)






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.








Date:  October 21, 2019


/s/ Mirta A. Negrini




Mirta A. Negrini




Chief Financial and Operating Officer


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