secwatch.observer — SEC 8-K summary
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Issuer:     Digital Brands Group, Inc. (DBGI)
CIK:        0001668010
Form:       8-K/A
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001104659-23-046813
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Brands Group issues $2.2M in 20% OID promissory notes due Sept 2023
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- Aggregate principal $2,208,750; subscription amount $1,800,000 representing 20% original issue discount.
- Notes mature September 30, 2023; Company may prepay without penalty at any time.
- Mandatory 50% repayment upon any debt/equity financing under $7.5M; 100% repayment on $7.5M+ financing.
- Default triggers automatic 20% increase in face value and 20% annual interest payable monthly in cash.
- Amendment corrects previously filed documents to remove certain conversion provisions not in executed agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668010/000110465923046813/0001104659-23-046813-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668010/000110465923046813/tm2313082d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-046813

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