DBGI Announces Pricing of $3 Million Public Offering of Common Stock and/or Pre-Funded Warrants
Digital Brands Group (NASDAQ: DBGI) has announced the pricing of a $3 million public offering, consisting of 30 million shares of common stock and/or pre-funded warrants at $0.10 per share. The pre-funded warrants are priced at $0.0999 per warrant. The offering, expected to close on October 30, 2024, is being conducted through RBW Capital Partners via Dominari Securities as the exclusive placement agent. The net proceeds will be used for working capital, general corporate purposes, and debt repayment. The offering is being conducted under the company's Form S-1 registration statement, which was declared effective by the SEC on October 28, 2024.
Digital Brands Group (NASDAQ: DBGI) ha annunciato il prezzo di un'offerta pubblica di 3 milioni di dollari, consistente in 30 milioni di azioni ordinarie e/o warrant pre-finanziati a 0,10 dollari per azione. I warrant pre-finanziati sono valutati 0,0999 dollari per warrant. L'offerta, prevista per chiudere il 30 ottobre 2024, 猫 condotta attraverso RBW Capital Partners tramite Dominari Securities in qualit脿 di agente di collocamento esclusivo. Il ricavato netto sar脿 utilizzato per capitale circolante, scopi aziendali generali e rimborso del debito. L'offerta viene effettuata in base alla dichiarazione di registrazione della societ脿 Form S-1, che 猫 stata dichiarata efficace dalla SEC il 28 ottobre 2024.
Digital Brands Group (NASDAQ: DBGI) ha anunciado la fijaci贸n del precio de una oferta p煤blica de 3 millones de d贸lares, consiste en 30 millones de acciones ordinarias y/o warrants prefinanciados a 0,10 d贸lares por acci贸n. Los warrants prefinanciados est谩n valorados en 0,0999 d贸lares por warrant. Se espera que la oferta se cierre el 30 de octubre de 2024 y se lleva a cabo a trav茅s de RBW Capital Partners mediante Dominari Securities como agente de colocaci贸n exclusivo. Los ingresos netos se utilizar谩n para capital de trabajo, fines corporativos generales y pago de deudas. La oferta se realiza bajo la declaraci贸n de registro Form S-1 de la empresa, que fue declarada efectiva por la SEC el 28 de octubre de 2024.
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Digital Brands Group (NASDAQ: DBGI) a annonc茅 le prix d'une offre publique de 3 millions de dollars, compos茅e de 30 millions d'actions ordinaires et/ou de bons de souscription pr茅financ茅s 脿 0,10 dollar par action. Les bons de souscription pr茅financ茅s sont fix茅s 脿 0,0999 dollar par bon. L'offre, qui devrait se cl么turer le 30 octobre 2024, est r茅alis茅e par l'interm茅diaire de RBW Capital Partners via Dominari Securities en tant qu'agent de placement exclusif. Le produit net sera utilis茅 pour le fonds de roulement, les objectifs d'entreprise g茅n茅raux et le remboursement de la dette. L'offre est effectu茅e sous la d茅claration d'enregistrement Form S-1 de la soci茅t茅, qui a 茅t茅 d茅clar茅e effective par la SEC le 28 octobre 2024.
Digital Brands Group (NASDAQ: DBGI) hat die Preisfestlegung f眉r ein 枚ffentliches Angebot in H枚he von 3 Millionen USD bekannt gegeben, das aus 30 Millionen Stammaktien und/oder vorfinanzierten Warrants zu je 0,10 USD pro Aktie besteht. Die vorfinanzierten Warrants werden mit 0,0999 USD pro Warrant bewertet. Das Angebot, das voraussichtlich am 30. Oktober 2024 abgeschlossen wird, erfolgt 眉ber RBW Capital Partners mit Dominari Securities als exklusivem Platzierungsmakler. Die Nettoerl枚se werden f眉r Betriebskapital, allgemeine Unternehmenszwecke und Schuldentilgung verwendet. Das Angebot wird unter dem Registrierungsstatement der Gesellschaft Form S-1 durchgef眉hrt, welches von der SEC am 28. Oktober 2024 f眉r wirksam erkl盲rt wurde.
- Secured $3 million in gross proceeds through public offering
- Registration statement declared effective by SEC
- Significant shareholder dilution with 30 million new shares at $0.10 per share
- Stock price implies very low market valuation at $0.10 per share
- Company requires funding for working capital and debt repayment indicating financial strain
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Austin, TX, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Digital Brands Group, Inc. (鈥淒BG鈥�) (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
RBW Capital Partners LLC, acting through Dominari Securities LLC (the 鈥淧lacement Agent鈥�), 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鈥檚 registration statement on Form S-1, as amended (File No. 333-282047), initially filed with the Securities and Exchange Commission (the 鈥淪EC鈥�) 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鈥檚 website at . 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 .
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 鈥渟afe harbor鈥� 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 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.
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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