Digital Brands secures $11.23M PIPE financing

3 hours ago 1

Digital Brands Group (OTC:DBGI) announced a $11.23M private investment in public equity (PIPE) deal with select investors.
The company will issue up to 14,031.25 shares of Series D Convertible Preferred Stock, which can be converted into shares of its common stock at a price equal to 80% of the lowest closing price over the five days before conversion.
The aggregate cash purchase price for the Series D Preferred Stock was $11.23M, having a stated value of $14,031,250.

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