Digital Brands Group, Inc. announced on December 11, 2024, that it will effectuate a 1-for-50 reverse stock split of its common stock. The reverse split is scheduled to become effective on December 13, 2024.
The primary objective of this reverse stock split is to enable the company to regain compliance with the $1.00 minimum bid price requirement of the Nasdaq Capital Market. Maintaining Nasdaq listing is crucial for investor visibility and liquidity.
Following the reverse split, Digital Brands Group's common stock will continue to trade on Nasdaq under the symbol 'DBGI', with trading on a split-adjusted basis commencing on December 13, 2024. The new CUSIP number for the common stock will be 25401N507.
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