'Purpose' Recoups $5.25M Capitalization Nine Months After Broadway Closing

'Purpose' Recoups $5.25M Capitalization Nine Months After Broadway Closing

Purpose, the play by Branden Jacobs-Jenkins directed by Phylicia Rashad that won both a Tony Award and a Pulitzer Prize last year, has officially recouped its $5.25 million capitalization, more than nine months after closing on Broadway. Producers announced the recoupment today, saying it was achieved with the aid of the New York State Tax […]

Branden Jacobs-Jenkins’ ‘Purpose’ recoups its capitalization

The producers of Branden Jacobs-Jenkins’ play “Purpose” on Broadway have announced that the production has recouped its capitalization. The $5.25 million capitalization — the total amount of money raised by producers from investors to put up a show — was earned back with the aid of the New York State tax credit, in addition to the profits made from its Broadway run. Investors in the production have also received a full return of their contributi…