Dolphin Entertainment (DLPN) has issued an announcement.
Dolphin Entertainment, Inc. has completed the acquisition of Elle Communications, LLC, enhancing its portfolio with this California-based communications agency. On the deal closure date, the company paid $2,025,000 and issued shares to the previous owner, who will remain with the company under an executive employment agreement. Additional future payments are planned, contingent on Elle’s financial performance, while the seller is also subject to a two-year lock-up agreement for the shares received. This strategic move aims to bolster Dolphin Entertainment’s market position, with further financial details to be disclosed in upcoming reports.
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