secwatch.observer — SEC 8-K summary
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Issuer:     Digital Brands Group, Inc. (DBGI)
CIK:        0001668010
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001493152-24-043761
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224043761/0001493152-24-043761-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668010/000149315224043761/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-043761

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