---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-017631"
form_type: "8-K"
ticker: "DBGI"
cik: "0001668010"
company_name: "Digital Brands Group, Inc."
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:11:44.673451+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# DBGI issues $250K convertible note with 20% interest, $3.50 conversion price

## Summary
- Issued $250,000 convertible promissory note to Target Capital 1 LLC, maturity April 30, 2025.
- Note carries 20% one-time interest ($50,000) and conversion at $3.50 per share.
- 50,000 commitment shares issued as fee; additional 50,000 if note not repaid/converted by Oct 31, 2024.
- Note is unsecured with standard default provisions; proceeds for general corporate purposes.

## SEC filing metadata
- accession: 0001493152-24-017631
- form_type: 8-K
- ticker: DBGI
- cik: 0001668010
- company_name: Digital Brands Group, Inc.
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1668010/000149315224017631/0001493152-24-017631-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1668010/000149315224017631/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-017631
- JSON: https://secwatch.observer/filing/0001493152-24-017631.json
- Plain text: https://secwatch.observer/filing/0001493152-24-017631.txt

## Key facts
- Debt Financings
  Digital Brands Group, Inc. incurred convertible notes of $250,000.00 with Target Capital 1 LLC maturing April 30, 2025.
  - Instrument: convertible notes
  - Principal: $250,000.00
  - Counterparty: Target Capital 1 LLC
  - Maturity: April 30, 2025
  - Event: incurrence
  source text: On April 30, 2024 (the “Issue Date”), Digital Brands Group, Inc., a Delaware corporation (the “Company”) issued a convertible promissory note in the original principal amount of $250,000.00 (the “Note”) to Target Capital 1 LLC, an Arizona limited liability company (the “Note Holder”), with a maturity date of April 30, 2025 (the “Maturity Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1668010/000149315224017631/0001493152-24-017631-index.htm
- Material Agreements
  Digital Brands Group, Inc. entered into Note with Target Capital 1 LLC valued at $250,000.00 (effective 2024-04-30).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Target Capital 1 LLC
  - Value: $250,000.00
  - Effective: 2024-04-30
  source text: On April 30, 2024 (the “Issue Date”), Digital Brands Group, Inc., a Delaware corporation (the “Company”) issued a convertible promissory note in the original principal amount of $250,000.00 (the “Note”) to Target Capital 1 LLC, an Arizona limited liability company (the “Note Holder”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1668010/000149315224017631/0001493152-24-017631-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.