Digital Brands Group, Inc. announced that it has entered into definitive agreements for the issuance of 1,277,140 shares at an offering price of $3.915 per share for the gross proceeds of $5,000,003 on January 11, 2023. The company also issued warrants exercisable immediately upon issuance, have a term of five years and an exercise price of $3.80 per share. The private placement is expected to close on or about January 13, 2023.

The company will issue securities pursuant to Regulation D.