Digital Brands Enters into Securities Purchase Agreement for $11.225 Million Private Placement with Select Investors

Core Viewpoint - Digital Brands Group, Inc. has announced a private investment in public equity (PIPE) financing agreement, raising approximately $11,225,000 after fees and expenses [1][2]. Financing Details - The PIPE financing involves the sale of up to 14,031.25 shares of Series D Convertible Preferred Stock, convertible into common stock at a conversion price of 80% of the lowest closing price over the previous five trading days [2]. - The stated value of the Series D Preferred Stock is $14,031,250, with a cash purchase price of $11,225,000 [2]. Placement Agent - RBW Capital Partners LLC, a division of Dawson James Securities, acted as the placement agent for the PIPE financing [3]. Securities Registration - The securities offered in the PIPE financing have not been registered under the Securities Act of 1933 and are only available to accredited investors [4]. - The company plans to file registration statements with the SEC for the resale of unregistered shares upon conversion of the Series D Preferred Stock [4]. Company Overview - Digital Brands Group specializes in eCommerce and Fashion, offering a variety of apparel through multiple brands on both direct-to-consumer and wholesale bases [6]. - The company focuses on leveraging customer data and purchase history to create personalized content and enhance customer engagement [6].