DBG Pays Off $1.3 Million in Convertible Notes, which Retires All of the Company鈥檚 Convertible Notes
Digital Brands Group (NASDAQ: DBGI) has announced the payment of $1.3 million in outstanding convertible notes, effectively retiring all debt securities that were convertible into the company's common stock. This development marks a significant step in improving the company's balance sheet and removing debt overhang. In 2024, DBG has paid off over $3.5 million in total debt, demonstrating its commitment to debt reduction and focusing on company growth.
Digital Brands Group (NASDAQ: DBGI) ha annunciato il pagamento di 1,3 milioni di dollari in obbligazioni convertibili in sospeso, ritirando di fatto tutti i titoli di debito convertibili in azioni ordinarie della societ脿. Questo sviluppo rappresenta un passo significativo nel migliorare il bilancio dell'azienda e nell'eliminare il sovraccarico di debito. Nel 2024, DBG ha estinto oltre 3,5 milioni di dollari di debito totale, dimostrando il suo impegno nella riduzione del debito e nell'accentuare la crescita dell'azienda.
Digital Brands Group (NASDAQ: DBGI) ha anunciado el pago de 1,3 millones de d贸lares en notas convertibles pendientes, retirando efectivamente todos los valores de deuda que eran convertibles en acciones ordinarias de la empresa. Este desarrollo marca un paso significativo en la mejora del balance de la empresa y en la eliminaci贸n de la carga de deuda. En 2024, DBG ha pagado m谩s de 3,5 millones de d贸lares en deuda total, demostrando su compromiso con la reducci贸n de deuda y el enfoque en el crecimiento de la empresa.
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Digital Brands Group (NASDAQ: DBGI) a annonc茅 le paiement de 1,3 million de dollars de billets convertibles en souffrance, mettant ainsi fin 脿 tous les titres de cr茅ance qui pouvaient 锚tre convertis en actions ordinaires de la soci茅t茅. Ce d茅veloppement marque une 茅tape significative dans l'am茅lioration du bilan de l'entreprise et l'茅limination du fardeau de la dette. En 2024, DBG a rembours茅 plus de 3,5 millions de dollars de dette totale, d茅montrant son engagement envers la r茅duction de la dette et le concentr茅 sur la croissance de l'entreprise.
Digital Brands Group (NASDAQ: DBGI) hat die Zahlung von 1,3 Millionen Dollar ausstehenden wandelbaren Anleihen angek眉ndigt, was effektiv alle Schuldtitel abschafft, die in Stammaktien des Unternehmens umgewandelt werden konnten. Diese Entwicklung stellt einen bedeutenden Schritt zur Verbesserung der Bilanz des Unternehmens und zur Beseitigung der Schuldenlast dar. Im Jahr 2024 hat DBG 眉ber 3,5 Millionen Dollar an Gesamtschulden abgebaut, was das Engagement f眉r die Reduzierung von Schulden und den Fokus auf das Unternehmenswachstum demonstriert.
- Paid off $1.3 million in convertible notes
- Complete elimination of all convertible debt securities
- Total debt reduction of $3.5 million in 2024
- Improved balance sheet structure
- None.
Insights
The retirement of
For a micro-cap company with a market cap of just
Austin, TX, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Digital Brands Group, Inc. (鈥淒BG鈥� or 鈥淐ompany鈥�) (NASDAQ: DBGI), a curated collection of luxury lifestyle brands, today announces that it has paid off
鈥淭his was a significant step in cleaning up the balance sheet, which also removed the overhang created by the Remaining Convertible Notes. The Company has now paid off over
Forward-looking Statements
Certain statements included in this release are "forward-looking statements" within the meaning of the 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 鈥渨ill,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� 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鈥檚 plans, objectives, projections and expectations relating to DBG鈥檚 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鈥檚 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鈥檚 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鈥檚 ability to implement its business strategy; DBG鈥檚 ability to grow its wholesale and direct-to-consumer businesses; retail industry changes and challenges; DBG鈥檚 and its vendors鈥� ability to maintain the strength and security of information technology systems; the risk that DBG鈥檚 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鈥檚 ability to properly collect, use, manage and secure consumer and employee data; stability of DBG鈥檚 manufacturing facilities and foreign suppliers; continued use by DBG鈥檚 suppliers of ethical business practices; DBG鈥檚 ability to accurately forecast demand for products; continuity of members of DBG鈥檚 management; DBG鈥檚 ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; DBG鈥檚 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鈥檚 financial results is included from time to time in DBG鈥檚 public reports filed with the SEC, including DBG鈥檚 Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.
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.
Digital Brands Group, Inc. Company Contact
Hil Davis, CEO
贰尘补颈濒:听
Phone: (800) 593-1047
SOURCE Digital Brands Group, Inc.
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FAQ
How much convertible debt did Digital Brands Group (DBGI) pay off in November 2024?
What is the total amount of debt DBGI has paid off in 2024?
Has DBGI eliminated all of its convertible notes?
