Dolphin Entertainment: Slips on discounted offering

Dolphin Entertainment

20/07/2018 18:07

** Film and TV production firm's shares  DLPN.O  down 14.5
pct to $3.02, among top decliners across U.S. exchanges  
    ** To offer 2 mln shares of its common stock at $3/shr,
raising ~$6 mln
    ** Offering price a 15 pct discount to DLPN's last close
 urn:newsml:reuters.com:*:nPn1KysxXa
    ** Offering size of 2 mln is roughly 38 pct of co's free
float and ~25 days worth of trading volume 
    ** Maxim Group acting as sole book-runner for offering 
    ** DLPN shares declined 16.1 pct YTD

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))