Digital Brands Group, Inc. Announces 1-for-50 Reverse Stock Split

Digital Brands Group, Inc. (NASDAQ: DBGI) revealed in an 8-K filing on December 11, 2024, that it will be conducting a 1-for-50 reverse split of its common stock. The company, based in Delaware, confirmed that this action will take place on December 13, 2024.

This move comes with the aim of enhancing compliance with the Nasdaq Capital Market’s $1.00 minimum bid price requirement. Following the reverse stock split, Digital Brands Group’s common stock will continue to trade under the symbol “DBGI” on Nasdaq, with trading on a split-adjusted basis commencing at the opening of the market on December 13, 2024. The new CUSIP number for the common stock post the Reverse Split will be 25401N507.

CEO of Digital Brands Group, Hil Davis, expressed that the reverse stock split aligns with the company’s strategic efforts to meet Nasdaq’s listing requirements effectively.

The company has emphasized that forward-looking statements contained within this announcement are speculative and subject to risks and uncertainties. Factors such as consumer demand, market disruptions, financial stability, and global market volatility could influence the actual results, which may vary from the anticipated outcomes.

Digital Brands Group uniquely positions itself in the apparel industry by offering a diverse range of products directly to consumers and through wholesale channels. The business model revolves around curating customers’ “closet share” by leveraging data insights to tailor personalized content and product offerings.

For additional information, individuals can contact the company directly at [email protected] or reach out via phone at (800) 593-1047. The original press release and further details about Digital Brands Group, Inc. can be found on their investor relations website.

This information is provided in agreement with the securities regulations, aiming to offer investors transparency about operational changes and corporate strategies.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Digital Brands Group’s 8K filing here.

About Digital Brands Group

Digital Brands Group, Inc engages in the provision of apparel products under various brands on direct-to-consumer and wholesale basis. It operates through DSTLD, Bailey, H&J, Stateside, and Sundry segments. The company designs, manufactures, and sells women's apparel, such as tops, sweaters, dresses, jumpsuits, bottoms, sets, jackets, rompers, suiting, sportswear, shirts, jackets, pants, shorts, polos, T-shirts, skirts, athleisure bottoms, denims, and other accessory products, as well as suiting for men.