Digital Brands Group Faces Nasdaq Delisting Notice
Ticker: DBGI · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1668010
| Field | Detail |
|---|---|
| Company | Digital Brands Group, INC. (DBGI) |
| Form Type | 8-K |
| Filed Date | Nov 22, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $35,000,000 m, $2,500,000, $19,046, $1,320,873 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, stock-exchange
Related Tickers: DBGI
TL;DR
DBGI got a delisting warning from Nasdaq - stock might be heading OTC.
AI Summary
Digital Brands Group, Inc. filed an 8-K on November 20, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is facing potential delisting from the Nasdaq Stock Market due to non-compliance with certain listing standards.
Why It Matters
This filing indicates a significant risk to the company's stock liquidity and investor confidence, as delisting would move trading to over-the-counter markets.
Risk Assessment
Risk Level: high — The company has received a notice of delisting, indicating it is not meeting Nasdaq's continued listing requirements, which poses a substantial risk to its market presence.
Key Players & Entities
- Digital Brands Group, Inc. (company) — Registrant
- Nasdaq Stock Market (company) — Exchange where the company is listed
- November 20, 2024 (date) — Date of earliest event reported
FAQ
What specific Nasdaq listing rule(s) has Digital Brands Group, Inc. failed to satisfy?
The filing states that the company received a notice of delisting or failure to satisfy a continued listing rule or standard, but does not specify which particular rule(s) were violated in the provided text.
What is the potential consequence of failing to meet Nasdaq's listing standards?
The consequence is a notice of delisting, which could lead to the company's securities being removed from trading on the Nasdaq Stock Market.
Has Digital Brands Group, Inc. been given a specific timeframe to regain compliance?
The provided text of the 8-K filing does not specify a timeframe for regaining compliance.
What actions, if any, does the company plan to take in response to the delisting notice?
The provided text of the 8-K filing does not detail the company's specific plans or actions in response to the delisting notice.
When was this 8-K filing submitted to the SEC?
The 8-K filing was submitted on November 22, 2024, reporting events as of November 20, 2024.
Filing Stats: 777 words · 3 min read · ~3 pages · Grade level 12.3 · Accepted 2024-11-22 17:00:17
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 DBGI The Nasdaq Stock Market LLC
- $35,000,000 m — hat the Company no longer satisfied the $35,000,000 market value of listed securities require
- $2,500,000 — urities requirement, or the alternative $2,500,000 stockholders' equity requirement, as se
- $19,046 — ompany reported stockholders' equity of $19,046 and, therefore, no longer complied with
- $1,320,873 — hange for net proceeds of approximately $1,320,873 (the "October ATM Proceeds"). Further,
- $0.10 — "Common Stock"), at a purchase price of $0.10 per share of Common Stock, and (ii) 24,
- $0.0999 — se Common Stock, at a purchase price of $0.0999 per Pre-Funded Warrant, immediately exe
- $2,555,261 — received net proceeds of approximately $2,555,261 from the Offering (the "Public Offering
Filing Documents
- form8-k.htm (8-K) — 39KB
- 0001493152-24-047443.txt ( ) — 256KB
- dbgi-20241120.xsd (EX-101.SCH) — 4KB
- dbgi-20241120_def.xml (EX-101.DEF) — 29KB
- dbgi-20241120_lab.xml (EX-101.LAB) — 36KB
- dbgi-20241120_pre.xml (EX-101.PRE) — 26KB
- form8-k_htm.xml (XML) — 6KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DIGITAL BRANDS GROUP, INC. Dated: November 22, 2024 By: /s/ John Hilburn Davis IV Name: John Hilburn Davis IV Title: President and Chief Executive Officer