Digital Brands Group, Inc., which bills itself as a curated collection of luxury lifestyle, digital-first brands, will effect a 1-for-25 reverse stock split of its common stock, par value $0.0001 per share, effective on August 22, 2023, at 12:01 a.m., EST, according to the vote of its shareholders on August 21, 2023.
DBG’s Common Stock will continue trading on The Nasdaq Capital Market under the symbol “DBGI” and begin trading on a split-adjusted basis when the market opens on August 22, 2023.
Following the Reverse Stock Split, the new CUSIP number for the Common Stock will be 25401N 408.
The company’s definitive proxy statement, filed with the Securities and Exchange Commission on July 19, 2023 (and as amended on July 21, 2023), offers additional information about the Reverse Stock Split available on the company’s Investor Relations page.
Photo courtesy DBG
