# EDGAR Filing Document

**Accession Number:** 0001668010
**File Stem:** 0001104659-23-003480
**Filing Date:** 2023-1
**Character Count:** 6308
**Document Hash:** 16a2bd7e5699bd0cf6ba2ed8a8c5d2a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-003480.hdr.sgml**: 20230112

**ACCESSION NUMBER**: 0001104659-23-003480

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230111

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230112

**DATE AS OF CHANGE**: 20230112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Digital Brands Group, Inc.
- **CENTRAL INDEX KEY:** 0001668010
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-APPAREL & ACCESSORY STORES [5600]
- **IRS NUMBER:** 461942864
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40400
- **FILM NUMBER:** 23526639

**BUSINESS ADDRESS:**
- **STREET 1:** 4700 S. BOYLE AVE
- **CITY:** VERNON
- **STATE:** CA
- **ZIP:** 90058
- **BUSINESS PHONE:** (720)937-9286

**MAIL ADDRESS:**
- **STREET 1:** 4700 S. BOYLE AVE
- **CITY:** VERNON
- **STATE:** CA
- **ZIP:** 90058

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Denim LA, Inc.
- **DATE OF NAME CHANGE:** 20160225

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of report (Date of earliest event reported) **January 11, 2023**

**DIGITAL BRANDS GROUP, INC.**

(Exact Name of Registrant as Specified in Its Charter)

**Delaware**

(State or Other Jurisdiction of Incorporation)

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| | |
|:---|:---|
| **001-40400** | **46-1942864** |
| (Commission File Number) | (IRS Employer Identification No.) |

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| | |
|:---|:---|
| **1400 Lavaca Street, Austin, TX** | **78701** |
| (Address of Principal Executive Offices) | (Zip Code) |

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**(209) 651-0172**

(Registrant's Telephone Number, Including Area Code)

**N/A**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Title of each class** | &nbsp;&nbsp;**Trading Symbols** | &nbsp;&nbsp;**Name of each exchange on which registered** |
| &nbsp;&nbsp;Common Stock, par value $0.0001 | &nbsp;&nbsp;DBGI | &nbsp;&nbsp;The Nasdaq Stock Market LLC |
| &nbsp;&nbsp;Warrants, each exercisable to purchase one share of Common Stock | &nbsp;&nbsp;DBGIW | &nbsp;&nbsp;The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 8.01. Other Events.**

As previously disclosed, Digital Brands Group, Inc. (the "Company") attended a hearing before the Nasdaq Hearings Panel (the "Panel") on September 8, 2022, at which hearing the Company presented its plan to evidence compliance with the $2.5 million stockholders' equity and $1.00 bid price requirements for continued listing on The Nasdaq Capital Market ("Nasdaq"), as set forth in Nasdaq Listing Rules 5550(b)(2) (the "Equity Rule") and 5550(a)(1) (the "Bid Price Rule"), respectively.

As previously disclosed, the Panel subsequently granted the Company's request for continued listing on Nasdaq, subject to the Company evidencing compliance with the Bid Price Rule and the Equity Rule by November 17, 2022, and January 17, 2023, respectively, among other conditions.

On November 29, 2022, Nasdaq formally notified the Company that it had regained compliance with the Bid Price Rule.

The Company is filing this Current Report on Form 8-K to demonstrate compliance with the Equity Rule, as required by the final, January 17<sup>th</sup>, 2023, term of the Panel's decision in this matter. As of the date of the filing of this report, the Company believes it has stockholders' equity of at least $2.5 million and thereby satisfies all applicable criteria for continued listing on The Nasdaq Capital Market, including the Equity Rule.

The increase in stockholders' equity is the result of i) the conversion of $8.1 million of debt held by Oasis Capital, LLC and FirstFire Global Opportunities Fund, LLC (the "Oasis/FirstFire Debt") into common stock, ii) the elimination of an aggregate of $9.1 million of liabilities from the balance sheet, which includes $1.69 million of derivative liabilities that were eliminated upon the conversion of the Oasis/FirstFire debt and $7.9 million of contingent consideration that was eliminated following the Company's settlement with the former owners of Harper & Jones, LLC, and iii) $9.15 million of net proceeds from the Company's public offering that closed on December 1, 2022.

The Company is awaiting Nasdaq's formal determination that the Company has evidenced compliance with all appliable continued listing criteria as required by the Panel's decision and will provide an update once available.

**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.

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| | | |
|:---|:---|:---|
|  | **DIGITAL BRANDS GROUP, INC.** | **DIGITAL BRANDS GROUP, INC.** |
| Date: January 12, 2023 |  |  |
|  | By: | /s/ John Hilburn Davis IV |
|  | Name: | John Hilburn Davis IV |
|  | Title: | President and Chief Executive Officer |

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