Digital Brands Group prices USD 3.53 million convertible note offering - DBGI News | RalliesDigital Brands Group prices USD 3.53 million convertible note offering
D
DBGI• Convertible note offering terms
- Digital Brands Group entered a USD 3.53 million unsecured convertible promissory note offering on July 23, 2026.
- USD 3 million subscription amount, structured as USD 3 million divided by 0.85; proceeds earmarked for working capital and liability repayment.
- The note matures Jan. 23, 2027, with scheduled repayments of USD 1 million in October, November and December 2026, then USD 529,412 in January 2027.
- Default interest is set at 20% per year; an event of default triggers a mandatory payment of 120% of outstanding amounts.
- The note converts only during an event of default at 90% of recent lows, subject to beneficial ownership limits and Nasdaq's 19.99% cap.
•
