Digital Brands Group issues $3.53M convertible note and secures $100M equity line

Digital Brands Group, Inc.

Issued $3,529,412 unsecured convertible promissory note; net proceeds of $3,000,000 for working capital and liability repayment.
Note matures Jan 23, 2027; scheduled repayments of $1M on Oct 23, Nov 23, Dec 23, 2026 and $529,412 on Jan 23, 2027.
Conversion at 90% of lowest VWAP during 5 days prior to conversion, subject to 19.99% Nasdaq cap and beneficial ownership limit.
Entered ELOC to sell up to $100M of common stock over 3 years at 95% of lowest daily VWAP; commitment fee of 1% paid in shares.
Aegis Capital acted as placement agent; registration rights agreement requires filing S-1 within 15 days.

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