Business
Digital Brands Enters into Securities Purchase Agreement for $11.225 Million Private Placement with Select Investors
Austin, TX, Aug. 09, 2025 (GLOBE NEWSWIRE) -- Digital Brands Group, Inc. (OTCQX: DBGI) (“DBG” or the “Company”), a publicly traded company specializing in
About this update from Digital Brands Group, Inc.
[{"type":"text","content":"Austin, TX, Aug. 09, 2025 (GLOBE NEWSWIRE) -- Digital Brands Group, Inc. (OTCQX: DBGI) (“DBG” or the “Company”), a publicly traded company specializing in eCommerce and Fashion, today announced that it has entered into a private investment in public equity (“PIPE”) financing agreement with select investors (the “Investors”) for gross proceeds of approximately $11,225,000.00, after deducting placement agent fees and offering expenses. Pursuant to the terms of the securities purchase agreement dated August 8, 2025 (the “Purchase Agreement”), the Company has agreed to sell, and the Investors have agreed to purchase, up to 14,031.25shares of its Series D Convertible Preferred Stock (the “Series D Preferred Stock”), convertible into shares of the Company’s common stock, par value $0.0001 (the “Common Stock”), subject to beneficial ownership limitations set by the Investors, at a conversion price equal to 80% of the lowest closing price of the Common Stock for each of the five trading days immediately prior to such conversion. The aggregate cash purchase price for the Series D Preferred Stock was $11,225,000, having a stated value of $14,031,250. RBW Capital Partners LLC (a division of Dawson James Securities, Inc,) acted as the placement agent in connection with the PIPE financing. The securities being offered and sold by the Company in the PIPE financing have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or state securities laws and may not be offered or sold in the United States absent registration with the U.S. Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. The Company has agreed to file one or more registration statements with the SEC covering the resale of the unregistered shares issuable upon the conversion of the Series D Preferred Stock. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Digital Brands Group We offer a wide variety of apparel through numerous bran...