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Dolphin Entertainment Inc (NASDAQ: DLPN) has taken an ownership position in the Midnight Theatre, a contemporary variety theater and restaurant experience in Manhattan. The financial terms of the transaction remain undisclosed.
The Midnight Theatre is in the final stages of construction and expects to open in Late Fall 2021 at the recently opened Manhattan West development.
The Midnight Theatre features the theatre itself; a separate pan-Asian restaurant, Hidden Leaf; and a ground-level café.
Dolphin will manage every aspect of publicity and marketing for the venue and facilitate talent and commercial relationships within the entertainment and culinary industries.
Dolphin held $9.3 million in cash and equivalents as of June 30.
Price Action: DLPN shares traded higher by 2.65% at $13.19 on the last check Tuesday.
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