secwatch.observer — SEC 8-K summary
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Issuer:     Digital Brands Group, Inc. (DBGI)
CIK:        0001668010
Form:       8-K
Filed at:   2023-06-01T23:59:59+00:00
Accession:  0001104659-23-067138
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Brands Group issues Series B Preferred Stock to CEO with 250M votes per share for $25K
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- CEO John Hilburn Davis IV purchased one share of Series B Preferred Stock for $25,000 cash on May 30, 2023.
- Preferred stock carries 250,000,000 votes per share, voting only on reverse stock split proposals, proportionally to common and Series A votes.
- Preferred stock is not convertible, has no dividends, and no liquidation preference; redeemable at $25,000 at board's discretion or upon reverse split effectiveness.
- The issuance was exempt from registration under Section 4(a)(2) of Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668010/000110465923067138/0001104659-23-067138-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668010/000110465923067138/tm2317542d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-067138

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