Digital Brands Group raises $5M in private placement of stock and warrants

Digital Brands Group, Inc.

Sold 1,277,140 units (share or pre-funded warrant + warrant) at $3.915/unit for ~$5M gross proceeds.
Warrants exercisable at $3.80/share for five years; pre-funded warrants have $0.0001 exercise price.
Placement agent H.C. Wainwright received 7.5% cash fee, management fee, and 95,786 placement agent warrants.
Net proceeds to be used for working capital; offering closed January 13, 2023.
Securities issued under Section 4(a)(2)/Rule 506(b); no general solicitation; accredited investors only.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Digital Brands Group, Inc. entered into Securities Purchase Agreement with a certain accredited investor valued at aggregate gross proceeds from the Private Placement of approximately $5 million (effective 2023-01-11).

Action: entry
Agreement: equity purchase
Counterparty: a certain accredited investor
Value: aggregate gross proceeds from the Private Placement of approximately $5 million
Effective: 2023-01-11

Exact text from the filing

On January 11, 2023, Digital Brands Group, Inc., a Delaware corporation (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with a certain accredited investor (the “Investor”)

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24 material agreements filed in the last 30 days. Browse all material agreements →

Digital Brands Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-003872

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