Digital Brands Group Faces Delisting from Nasdaq

Digital Brands Group, Inc. (NASDAQ: DBGI) has received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) regarding the delisting of the company’s common stock. As per the notification on December 16, 2024, the Nasdaq Hearings Panel has decided to delist Digital Brands Group, Inc. The trading of the company’s securities will be suspended starting December 18, 2024. The company anticipates that its common stock will become eligible for quotation on the OTC Pink Market under the symbol “DBGI.”

The Panel’s decision came after identifying violations of Listing Rules 5550(a)(2), 5550(b)(1), and 5635, pertaining to the Bid Price, Shareholders’ Equity, and Shareholder Approval Rules, respectively. Digital Brands Group, Inc. has a 15-day window post-receipt of the decision to request a review by the Nasdaq Listing and Hearing Review Council. Alternatively, the Council may opt to review the Panel’s decision within 45 days of the company’s notification.

In light of these developments, a cautionary statement was issued regarding forward-looking statements contained in the Current Report on Form 8-K. Such statements involve uncertainties and are based on the Company’s present expectations and assumptions concerning future events or performance. Digital Brands Group, Inc. emphasized the importance of understanding potential risks and uncertainties, which could impact actual results.

Despite the impending delisting from Nasdaq, Digital Brands Group, Inc. is preparing for a potential shift to the OTC Pink Market, subject to regulatory requirements and compliance standards. Investors are advised to exercise caution and conduct thorough evaluations of the risks and uncertainties highlighted in the Company’s SEC filings.

This report serves as a notification of the company’s current standing in response to Nasdaq’s decision, urging stakeholders to monitor forthcoming developments as Digital Brands Group, Inc. navigates this transition.

Should there be any updates or revisions to this matter, the company will ensure prompt disclosure to maintain transparency with its shareholders and market participants.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Digital Brands Group’s 8K filing here.

Digital Brands Group Company Profile

Digital Brands Group, Inc engages in the provision of apparel products under various brands on direct-to-consumer and wholesale basis. It operates through DSTLD, Bailey, H&J, Stateside, and Sundry segments. The company designs, manufactures, and sells women's apparel, such as tops, sweaters, dresses, jumpsuits, bottoms, sets, jackets, rompers, suiting, sportswear, shirts, jackets, pants, shorts, polos, T-shirts, skirts, athleisure bottoms, denims, and other accessory products, as well as suiting for men.