Digital brands group, inc. announces closing of $10.0 million initial public offering and harper & jones, llc acquisition

Los angeles, may 18, 2021 /prnewswire/ -- digital brands group, inc. (nasdaq: dbgi) ("digital brands" or the "company"), today announced the closing of a firm underwritten public offering of 2,409,639 shares of common stock and warrants to purchase 2,771,084 shares of common stock (which includes warrants to purchase 361,445 shares of common stock pursuant to the partial exercise by the underwriters of their over-allotment option) at a combined public offering price of $4.15 per share and warrant for aggregate gross proceeds of approximately $10.0 million, prior to deducting underwriting discounts, commissions, and other offering expenses and excluding any exercise of the underwriters' option to purchase any additional securities as described herein. in addition, the company granted the underwriters a 45-day option to purchase up to an additional 361,445 shares and 361,445 warrants at the public offering price less the underwriting discounts and commissions.
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