Channing Tatum Is 'Tapping Back In' to Magic Mike 3 : Third Movie to Debut on HBO Max

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Magic Mike 3 is officially in the works!

Channing Tatum revealed the news in a Twitter announcement on Monday, where he shared a photo of the script with the title set as Magic Mike's Last Dance.

"Well world, looks like Mike Lane's tapping back in. @hbomax," Tatum, 41, tweeted.

The film, written by Reid Carolin, will be directed by Steven Soderbergh, who directed the first film in the franchise released in 2012.

The third movie will premiere exclusively on HBO Max, with Gregory Jacobs, who directed 2015's Magic Mike XXL, producing with Carolin, Nick Wechsler and Peter Kiernan.

RELATED: Magic Mike Came Out 9 Years Ago Today! Enjoy These 10 Super-Sexy Photos from the Movie

"There are no words for how excited I am to blow the doors off of the world of Magic Mike with Steven, Greg, Reid, and the amazing people at HBO Max," Tatum said in a statement obtained by PEOPLE. "The stripperverse will never be the same."

The news comes almost eight months after news broke that HBO Max would be hosting an unscripted competition show based on the movie series called The Real Magic Mike.

The upcoming reality competition show will see 10 men who have "lost their magic" transformed into real-life Magic Mikes. The contenders will be tasked with baring their souls and evolving their bodies as they learn routines and develop a new level of self-confidence. In the end, the man who is crowned the "Real Magic Mike" will receive a cash prize and get to perform on the Magic Mike Live stage in Las Vegas.

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The world of Magic Mike has expanded since the release of the first film in 2012. The Tatum-led film made more than $167 million at the worldwide box office and spawned the sequel, Magic Mike XXL, in 2015. The movies also inspired a stage musical that premiered in 2018.

The Magic Mike film series is loosely inspired by Tatum's experience as a stripper. Speaking to PEOPLE in 2012, he opened up about the aspects of the job that he did and didn't like.

"I enjoyed the performing part of dancing but I didn't really love taking my clothes off," he said at the time. "It was fun while it lasted."