Reported Earlier, Digital Brands Group Prices $3M Public Offering Of 30m Common Stock And/Or Pre-Funded Warrants At $0.10/Share
Portfolio Pulse from Benzinga Newsdesk
Digital Brands Group has announced a $3 million public offering of 30 million common stock and/or pre-funded warrants at $0.10 per share. The proceeds will be used for working capital, general corporate purposes, and debt repayment.
October 29, 2024 | 7:40 am
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Digital Brands Group is conducting a $3 million public offering at $0.10 per share. The funds will be used for working capital, corporate purposes, and debt repayment.
The offering price of $0.10 per share is likely below the current market price, which could lead to a short-term decrease in stock price due to dilution. However, the use of proceeds for debt repayment and working capital is a positive long-term move.
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