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:  0001493152-24-017637
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DBGI raises $3.2M via immediate cash exercise of 1.03M warrants at $3.13; issues new warrants at $2.88
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- Gross proceeds ~$3.2M from immediate cash exercise of 1,027,750 warrants at reduced exercise price of $3.13 per share.
- Original warrants (Series A/B, exercise price $9.43) issued Sep 2023 were replaced; closing expected May 7, 2024.
- New unregistered Series A-1 and B-1 warrants issued for up to 1,027,750 shares each, exercisable at $2.88 per share.
- H.C. Wainwright & Co. acted as exclusive placement agent; net proceeds to be used for working capital.
- New Series A-1 warrants have 5.5-year term; Series B-1 warrants have 15-month term from issuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224017637/0001493152-24-017637-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224017637/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-017637

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