Digital Brands Group settles $1.79M notes with investors; $500k due May 28, $1.29M due Sep 30

Digital Brands Group, Inc.

Aggregate settlement of $1,789,668.37 to extinguish promissory notes (original principal ~$2.5M).
First payment of $500,000 due May 28, 2024; second payment of $1,289,668.37 due Sep 30, 2024.
Mutual release of all claims by both parties related to the notes and securities purchase agreement.
If Company fails to make payments, Investor can void settlement and reinstate original 30% OID note terms including default penalties.

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