secwatch.observer — SEC 8-K summary
======================================

Issuer:     Digital Brands Group, Inc. (DBGI)
CIK:        0001668010
Form:       8-K
Filed at:   2024-05-29T23:59:59+00:00
Accession:  0001493152-24-021788
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224021788/0001493152-24-021788-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224021788/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-021788

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer