Group 1 - Digital Brands Group, Inc. has paid off $1.3 million in outstanding convertible notes, retiring all debt securities convertible into common stock [1] - The company has eliminated over $3.5 million in debt in 2024, including the recent payoff, to focus on growth and remove debt overhang [2] - The business model of Digital Brands Group is based on being a digitally native-first vertical brand, offering a variety of apparel through direct-to-consumer and wholesale channels [4] Group 2 - The CEO of Digital Brands Group, Hil Davis, emphasized the significance of cleaning up the balance sheet and the positive impact on the company's growth strategy [2] - The company leverages customer data and purchase history to create personalized content and looks, aiming to increase customer engagement and "closet share" [4]
DBG Pays Off $1.3 Million in Convertible Notes, which Retires All of the Company's Convertible Notes