Digital Brands Group, Inc. (DBGI): M&A transaction — Digital Brands Group completes Sundry acquisition for $14M in cash, notes, and stock

Digital Brands Group, Inc.

Paid $7.5M cash, issued $5.5M in 8% promissory notes (due Feb 15, 2023), and $1.0M in stock to sellers.
Sundry becomes a wholly owned subsidiary; CEO expects revenue scale and cross-selling opportunities.
Company will provide annual 2023 revenue and earnings guidance in January including Sundry contributions.
Previous terms were disclosed in an Oct 18, 2022 8-K; this filing confirms the December 30 closing.

item 2.01 item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Digital Brands Group, Inc. completed an acquisition involving Sundry (Sunnyside, LLC) for $7.5 million in cash, $5.5 million in promissory notes, and $1.0 million in shares of common stock (closed 2022-12-30).

Action: acquisition
Counterparty: Sundry (Sunnyside, LLC)
Consideration: $7.5 million in cash, $5.5 million in promissory notes, and $1.0 million in shares of common stock
Closing: 2022-12-30

Exact text from the filing

and Sundry. Pursuant to the Agreement, Sellers, as the holders of all of the outstanding membership interests of Sundry, exchanged all of such membership interests for (i) $7.5 million in cash, (ii) $5.5 million in promissory notes of the Company (the “Notes”), and (iii) a number of shares of common stock of the Company equal to $1.0 million (the “Shares”),

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4 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Digital Brands Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-000862

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