Digital Brands announces 1-for-50 reverse stock split

Digital Brands (DBGI) Group will effectuate a 1-for-50 reverse split of its common stock that will become effective on December 13, 2024. The Company expects that the reverse stock split will allow the Company to regain compliance with the $1.00 minimum bid price requirement of the Nasdaq Capital Market. DBG’s common stock will continue to trade on Nasdaq under the symbol “DBGI” and will begin trading on a split-adjusted basis when the market opens on December 13, 2024. The new CUSIP number for the common stock following the Reverse Split will be 25401N507.