Digital Brands Group, Inc. Announces Pricing of $10 Million Public Offering
Summary
The Company intends to use the net proceeds from this offering to fund a portion of the cash purchase price of its Sundry acquisition, to repay outstanding promissory notes, for the payment under a settlement agreement with the former owners of H&J and the remaining balance for general corporate purposes.The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. When available, electronic copies of the final prospectus may be obtained for free on the SECs website located at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.Digital Brands Group is a curated collection of lifestyle brands, including Bailey 44, DSTLD, Harper and Jones, Stateside and ACE Studios, that offers a variety of apparel products through direct-to-consumer and wholesale distribution. We aim for our customers to wear our brands head to toe and to capture what we call "closet share" by gaining insight into their preferences to create targeted and personalized content specific to their cohort. As a result, we have been able to realize operational efficiencies and continue to identify additional cost saving opportunities to scale our brands and overall portfolio.Certain statements contained in this press release constitute forward-looking statements, including, without limitation, the ability of the Company to consummation of the public offering, the satisfaction of the closing conditions of the public offering and the use of proceeds therefrom. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond managements control.