Lucosky Brookman LLP Represents Digital Brands Group in $11.225 Million Private Placement
Digital Brands Group, Inc. (OTCQX: DBGI), a publicly traded eCommerce and fashion company, has entered into a securities purchase agreement with select accredited investors for gross proceeds of approximately $11.225 million.
Pursuant to the agreement, the Company will issue up to 14,031.25 shares of Series D Convertible Preferred Stock, which are convertible into common stock at a price equal to 80% of the lowest closing price over the five trading days prior to conversion, subject to beneficial ownership limitations. The Series D Preferred Stock has an aggregate stated value of $14,031,250.
Digital Brands intends to use the proceeds from the financing to strengthen its balance sheet, advance growth initiatives, and enhance operational flexibility.
Lucosky Brookman LLP served as legal counsel to Digital Brands Group, Inc. RBW Capital Partners LLC, a division of Dawson James Securities, Inc., acted as placement agent for the transaction. Ross Carmel represented RBW.
This transaction underscores continued investor confidence in Digital Brands Group’s data-driven, direct-to-consumer model and its strategy of expanding customer “closet share” through personalized, targeted engagement.