Interviews
Austin, TX, Nov. 07, 2024 (GLOBE NEWSWIRE) Digital Brands Group, Inc. (“DBG” or “Company”) (NASDAQ: DBGI), a curated collection of luxury lifestyle brands, today announces that it has paid off $1.3 million in outstanding convertible notes (the “Remaining Convertible Notes”). As a result of this payoff, the Company has now retired all debt securities that were convertible into the Company’s common stock.
“This was a significant step in cleaning up the balance sheet, which also removed the overhang created by the Remaining Convertible Notes. The Company has now paid off over $3.5 million in debt in 2024, including the Remaining Convertible Notes, in its effort to remove debt overhang and focus on the growth of the Company,” said Hil Davis, Chief Executive Officer of Digital Brands Group.
About Digital Brands Group
We offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis. We have created a business model derived from our founding as a digitally native-first vertical brand. We focus on owning the customer's "closet share" by leveraging their data and purchase history to create personalized targeted content and looks for that specific customer cohort.
