Digital Brands corrects erroneous issuance of 1.31M shares; outstanding count reduced to 28.98M

Digital Brands Group, Inc.

Errant issuance of 1,311,345 shares upon conversion of October 2023 promissory note violated Nasdaq Rule 56353(d).
Holder returned and cancelled the erroneously issued shares on November 5, 2024, per remediation plan.
Outstanding common stock reduced to 28,982,218 shares as of November 5, 2024.
Company previously disclosed error on October 16, 2024, and sought return of shares.

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