Digital Brands raises $3.2M via warrant exercises, believes Nasdaq equity compliance restored

Digital Brands Group, Inc.

Q1 10-Q filed May 20 showed stockholders' equity of $2.98M.
Subsequent warrant exercise of ~1.03M warrants at $3.13 added $3.2M cash.
Company believes equity now exceeds Nasdaq's $2.5M minimum requirement.
Nasdaq deficiency letter received April 22 covering Dec 31, 2023 equity; hearing pending.
Delisting risk remains if next periodic report fails to show compliance.

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