secwatch.observer — SEC 8-K summary
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Issuer:     Digital Brands Group, Inc. (DBGI)
CIK:        0001668010
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0001104659-23-000843
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Brands Group enters $4M OID note financing, issues warrants and incentive shares
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- Aggregate principal $4M (proceeds $3.2M after 20% OID); maturity Feb 15, 2023.
- Issued 469,480 five-year warrants exercisable at $4.26 per share; 60,000 incentive shares.
- If not repaid by maturity, note converts to common at Nasdaq closing price; CEO provides personal guarantee.
- Mandatory prepayment triggers: 50% of balance if any financing < $4M, 100% if ≥ $4M.
- Registration rights triggered if notes unpaid by maturity; filing within 45 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668010/000110465923000843/0001104659-23-000843-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668010/000110465923000843/tm2233765d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-000843

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