DBGI Announces Extension of Warrant Exercise Period

Core Viewpoint - Digital Brands Group, Inc. has entered into agreements with existing holders of Common Share Purchase Warrants to exercise certain warrants, resulting in significant proceeds for the company [1][2]. Group 1: Agreements and Warrants - The company has entered into letter agreements with holders of Existing Warrants, which are set to expire on February 17, 2026, with an exercise price of $0.66 per share [1]. - Holders agreed to exercise a total of 591,492 Existing Warrants immediately and an additional 2,408,508 New Warrants by June 17, 2026, at the same exercise price [2]. - The total amount of Existing Warrants exercised by the holders was 2,365,968, generating approximately $1.54 million in proceeds for the company [2]. Group 2: New Warrants - In exchange for exercising the Existing Warrants, the company will issue New Warrants allowing holders to purchase up to 2,408,508 shares of common stock at an exercise price of $0.66 per share, with a similar structure to the Existing Warrants [3]. - The New Warrants will have a registration for resale under a Registration Statement on Form S-3, which the company plans to file by February 27, 2026 [4]. Group 3: Company Overview - Digital Brands Group specializes in eCommerce and fashion, offering a variety of apparel through direct-to-consumer and wholesale channels [5]. - The company focuses on leveraging customer data and purchase history to create personalized content and enhance customer engagement [5].