Digital Brands Announces 1-for-50 Reverse Stock Split

Group 1 - Digital Brands Group, Inc. (DBG) will implement a 1-for-50 reverse stock split effective December 13, 2024, to regain compliance with Nasdaq's $1.00 minimum bid price requirement [1][2] - Following the reverse split, DBG's common stock will continue to trade on Nasdaq under the symbol "DBGI" and will have a new CUSIP number of 25401N507 [2] - CEO Hil Davis stated that the reverse stock split is a strategic step towards regaining compliance with Nasdaq's listing requirements [2] Group 2 - DBG operates a business model that includes a variety of apparel offered through both direct-to-consumer and wholesale channels, focusing on leveraging customer data for personalized marketing [4]