DBGI Announces Expiration of 9.6 Million Outstanding Cash Warrants, Eliminating Dilution Overhang

About this update from Digital Brands Group, Inc.

DBGI Corp. (NASDAQ:DBGI) a publicly traded company specializing in eCommerce and fashion today announced that 9.6 million in outstanding cash warrants expired Wednesday, June 17th. This eliminates a significant dilution overhang from these expired cash warrants. These expired 9.6 million cash warrants are in addition to the 7.1 million pre-funded warrants the Company cancelled, and announced, earlier this week on Monday, June 15th. This eliminates a total of 16.7 million in dilution overhang over the last three days. 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 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 “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 th...

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