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Wednesday, May 22, 2024 4:35:02 PM
Smart & necessary move
On May 20, 2024, Digital Brands Group, Inc. (the “Company”) filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024, which reflected stockholders’ equity of approximately $2.98 million. Subsequent to quarter-end, on May 7, 2024, the Company raised approximately $3.2 million from the exercise of approximately 1.03 million warrants at an exercise price of $3.13. As a result of that warrant transaction, and as of the date of this filing, the Company believes it continues to have stockholders’ equity in excess of the minimum $2.5 million stockholders’ equity requirement set forth in The Nasdaq Stock Market LLC’s (“Nasdaq”) Listing Rule 5550(b)(1).
As previously reported, on April 22, 2024, the Company received a letter from Nasdaq’s Listing Qualifications Staff notifying the Company that it did not comply with Nasdaq Listing Rule 5550(b) because it reported less than $2.5 million in stockholders’ equity as of December 31, 2023. The Company subsequently requested a hearing before the Nasdaq Hearings Panel to address the deficiency. The hearing has not yet occurred.
Nasdaq will continue to monitor the Company’s ongoing compliance with Nasdaq Listing Rule 5550(b) and, if the Company’s next periodic report does not evidence compliance with Nasdaq Listing Rule 5550(b), the Company may be subject to delisting. There can be no assurance that the Company will be able to maintain compliance with Nasdaq Listing Rule 5550(b).
Recent DBGI News
- DBG Announces Launch of AVO, A New Direct-To-Consumer Brand, After Successful Beta Test • GlobeNewswire Inc. • 09/04/2024 02:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/04/2024 12:55:39 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 09/04/2024 04:15:03 AM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 08/21/2024 10:16:22 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/19/2024 09:29:45 PM
- Digital Brands Group Reports Second Quarter 2024 Financial Results • GlobeNewswire Inc. • 08/19/2024 08:30:00 PM
- Digital Brands Group to Report Second Quarter 2024 Financial Results on Monday, August 19, 2024 • GlobeNewswire Inc. • 08/14/2024 02:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/02/2024 08:49:48 PM
- DBG Announces Successful Launch of its New DTC Strategy DSTLD Orders Rise 144% Since June Launch • GlobeNewswire Inc. • 07/31/2024 11:30:00 AM
- Digital Brands Group Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 05/20/2024 01:30:00 PM
- Digital Brands Group to Report First Quarter 2024 Financial Results on Monday, May 20, 2024 • GlobeNewswire Inc. • 05/17/2024 06:52:00 PM
- DBGI Announces Closing of Exercise of Warrants for $3.2 Million in Gross Proceeds • GlobeNewswire Inc. • 05/07/2024 08:51:00 PM
- DBGI Announces Exercise of Warrants for $3.2 Million in Gross Proceeds • GlobeNewswire Inc. • 05/03/2024 01:18:04 PM
- Digital Brands Group Reports Fourth Quarter and Fiscal Year 2023 Financial Results • PR Newswire (US) • 04/15/2024 08:15:00 PM
- Digital Brands Group to Report Fourth Quarter and Fiscal Year 2023 Financial Results on Monday, April 15, 2024 • PR Newswire (US) • 04/12/2024 03:00:00 PM
- Digital Brands Group To Open First Retail Store in First Half of April in Dallas, Texas • PR Newswire (US) • 02/27/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/13/2024 03:00:04 PM
- DBGI Reaffirms its 2024 Guidance and Commits to No Equity Offerings for 2024 • PR Newswire (US) • 02/13/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/18/2024 09:01:25 PM
- DBG Plans to Open 50 Retail Stores Over Next Several Years Funded By Internal Free Cash Flow • PR Newswire (US) • 01/18/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/16/2024 09:13:36 PM
- Digital Brands Group Signs Letter of Intent to Open First Retail Store in March • PR Newswire (US) • 01/16/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/04/2024 09:05:13 PM
- Digital Brands Group Forecasts $27M to $30M in Revenue, $6M to $7M in Internal Free Cash Flow and $1.5M to $2.0M in EBITDA for 2024 • PR Newswire (US) • 01/03/2024 01:30:00 PM
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