secwatch.observer — SEC 8-K summary
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Issuer:     Digital Brands Group, Inc. (DBGI)
CIK:        0001668010
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001493152-24-017631
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224017631/0001493152-24-017631-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224017631/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-017631

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