Digital brands group, inc. announces closing of $10 million public offering

Austin, texas , dec. 1, 2022 /prnewswire/ -- digital brands group, inc. ("digital brands" or the "company") (nasdaq: dbgi), a curated collection of luxury lifestyle, digital-first brands, today announced the closing of its previously announced public offering of 1,818,181 shares of its common stock (or pre-funded warrants in lieu thereof), class b warrants to purchase up to 1,818,181 shares of its common stock ("class b warrants"), and class c warrants to purchase up to 1,818,181 shares of its common stock ("class c warrants", together with the class b warrants, collectively the "warrants"), at an offering price to the public of $5.50 per share (or pre-funded warrant in lieu thereof) and associated warrants. the class b warrants have an exercise price of $5.25 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance.
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