NewsMV
A $3,529,412 unsecured convertible note and a three-year equity purchase facility of up to $100 million put Digital Brands Group (Nasdaq: DBGI) in focus on July 23, when the Round Rock, Texas company filed an 8-K with the SEC.
served as sole placement agent on a best-efforts basis. The first $1,000,000 installment on the note falls due on or before October 23, 2026.
The convertible note: terms and default exposure The note's $3,529,412 principal reflects a $3,000,000 subscription divided by 0.85.
Proceeds are directed toward general working capital and repayment of certain liabilities. Aegis collected a commission equal to 3.0% of the $3,000,000 subscription amount, paid from escrow at closing.
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