DBGI Announces Pricing of $3 Million Public Offering of Common Stock and/or Pre-Funded Warrants
October 28 2024 - 7:10PM
Digital Brands Group, Inc. (“DBG”) (NASDAQ: DBGI), a curated
collection of luxury lifestyle brands, announces the pricing of its
public offering of an aggregate of 30 million shares of common
stock and/or pre-funded warrants to purchase common stock at a
public offering price of $0.10 per share (minus $0.0001 per
pre-funded warrant). The gross proceeds from the offering, before
deducting the placement agent's fees and other offering expenses,
are expected to be $3 million. DBG intends to use the net proceeds
of the offering for working capital, general corporate purposes,
and the repayment of debt.
RBW Capital Partners LLC, acting through
Dominari Securities LLC (the “Placement Agent”), is acting as the
exclusive placement agent for the offering.
Anthony Linder Cacomanolis PLLC is acting as
legal counsel to Digital Brands Group, Inc. and Sichenzia Ross
Ference Carmel LLP is acting as legal counsel to the Placement
Agent.
The offering is expected to close on October 30,
2024, subject to customary closing conditions. The offering is
being conducted pursuant to the Company’s registration statement on
Form S-1, as amended (File No. 333-282047), initially filed with
the Securities and Exchange Commission (the “SEC”) on October 24,
2024, and subsequently declared effective by the SEC on October 28,
2024. A final prospectus relating to the offering will be filed
with the SEC and will be available on the SEC’s website at
https://www.sec.gov/. Copies of the final prospectus relating to
this offering may be obtained from Dominari Securities LLC at 725
Fifth Avenue, 23rd Floor, New York, NY 10022, or the email address
info@dominarisecurities.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
described herein, nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About Digital Brands Group
We offer a wide variety of apparel through
numerous brands on a both direct-to-consumer and wholesale basis.
We have created a business model derived from our founding as a
digitally native-first vertical brand. We focus on owning the
customer's "closet share" by leveraging their data and purchase
history to create personalized targeted content and looks for that
specific customer cohort.
Forward-looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
federal securities laws. Forward-looking statements are made based
on our expectations and beliefs concerning future events impacting
DBG and therefore involve several risks and uncertainties. You can
identify these statements by the fact that they use words such as
“will,” “anticipate,” “estimate,” “expect,” “should,” and “may” and
other words and terms of similar meaning or use of future dates,
however, the absence of these words or similar expressions does not
mean that a statement is not forward-looking. All statements
regarding DBG’s plans, objectives, projections and expectations
relating to DBG’s operations or financial performance, and
assumptions related thereto are forward-looking statements. We
caution that forward-looking statements are not guarantees and that
actual results could differ materially from those expressed or
implied in the forward-looking statements. DBG undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. Potential risks and
uncertainties that could cause the actual results of operations or
financial condition of DBG to differ materially from those
expressed or implied by forward-looking statements include, but are
not limited to: risks arising from the widespread outbreak of an
illness or any other communicable disease, or any other public
health crisis, including the coronavirus (COVID-19) global
pandemic; the level of consumer demand for apparel and accessories;
disruption to DBGs distribution system; the financial strength of
DBG’s customers; fluctuations in the price, availability and
quality of raw materials and contracted products; disruption and
volatility in the global capital and credit markets; DBG’s response
to changing fashion trends, evolving consumer preferences and
changing patterns of consumer behavior; intense competition from
online retailers; manufacturing and product innovation; increasing
pressure on margins; DBG’s ability to implement its business
strategy; DBG’s ability to grow its wholesale and
direct-to-consumer businesses; retail industry changes and
challenges; DBG’s and its vendors’ ability to maintain the strength
and security of information technology systems; the risk that DBG’s
facilities and systems and those of our third-party service
providers may be vulnerable to and unable to anticipate or detect
data security breaches and data or financial loss; DBG’s ability to
properly collect, use, manage and secure consumer and employee
data; stability of DBG’s manufacturing facilities and foreign
suppliers; continued use by DBG’s suppliers of ethical business
practices; DBG’s ability to accurately forecast demand for
products; continuity of members of DBG’s management; DBG’s ability
to protect trademarks and other intellectual property rights;
possible goodwill and other asset impairment; DBG’s ability to
execute and integrate acquisitions; changes in tax laws and
liabilities; legal, regulatory, political and economic risks;
adverse or unexpected weather conditions; DBG's indebtedness and
its ability to obtain financing on favorable terms, if needed,
could prevent DBG from fulfilling its financial obligations; and
climate change and increased focus on sustainability issues. More
information on potential factors that could affect DBG’s financial
results is included from time to time in DBG’s public reports filed
with the SEC, including DBG’s Annual Report on Form 10-K, and
Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished
with the SEC.
Digital Brands Group, Inc. Company ContactHil
Davis, CEOEmail: invest@digitalbrandsgroup.co Phone:
(800) 593-1047
SOURCE Digital Brands Group, Inc.
Related Links
https://ir.digitalbrandsgroup.co
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