{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-045079","form_type":"8-K","ticker":"DBGI","cik":"0001668010","company_name":"Digital Brands Group, Inc.","filed_at":"2023-04-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.950842+00:00","generated_at":"2026-06-17T02:41:23.321601+00:00","sec_items":["1.01","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Digital Brands Group issues $2.2M in 20% OID notes due Sep 2023 with onerous conversion terms","bullets":["Issued $2,208,750 aggregate principal of 20% OID notes for $1,800,000 subscription amount to multiple investors.","Notes mature September 30, 2023; prepayment allowed without penalty.","If not repaid by maturity, principal increases to 120%, interest at 20% annually, and notes become convertible at closing price.","Upon default conversion, if shareholder approval not obtained, CEO must personally guarantee repayment and pledge shares.","Require 50% repayment of remaining balance if subsequent financing < $7.5M, full repayment if ≥ $7.5M."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-045079","json":"https://secwatch.observer/filing/0001104659-23-045079.json","markdown":"https://secwatch.observer/filing/0001104659-23-045079.md","text":"https://secwatch.observer/filing/0001104659-23-045079.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1668010/000110465923045079/0001104659-23-045079-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1668010/000110465923045079/tm2312638d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T02:41:23.321601+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1ecc17c3998d246f3cc2a048ad9c6ce6299f1ee0","claim":"Digital Brands Group, Inc. entered into Securities Purchase Agreement with various purchasers valued at $2,208,750 (effective 2023-04-07).","evidence_excerpt":"On April 7, 2023, Digital Brands Group, Inc. (the “Company”) and various purchasers (the “Investors”) executed a Securities Purchase Agreement (the “SPA”) whereby the Investors purchased from the Company 20% Original Issue Discount (the “OID”) promissory notes (the “Notes”) in the aggregate principal amount of $2,208,750 (with an aggregate subscription amount of $1,800,000).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1668010/000110465923045079/0001104659-23-045079-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"various purchasers"},{"label":"Value","value":"$2,208,750"},{"label":"Effective","value":"2023-04-07"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}