Digital Brands Group, Inc. announced on February 13, 2025, the pricing of a public offering to generate gross proceeds of $7.5 million. The offering consists of an aggregate of 11.36 million units, with each unit comprising a share of common stock or a pre-funded warrant, plus two common stock purchase warrants.
The units were priced at $0.66 per unit, with a slight adjustment for units including a pre-funded warrant. The company intends to utilize the net proceeds from this offering to fund working capital, general corporate purposes, and the repayment of debt.
This capital infusion is expected to enhance the company's financial runway and support its strategic growth objectives. The offering is anticipated to close on February 18, 2025, subject to customary closing conditions.
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