DBGI Announces 1-for-25 Reverse Stock Split Effective August 22, 2023

AUSTIN, Texas, Aug. 21, 2023 /PRNewswire/ -- Digital Brands Group, Inc. ("we", "us", "DBG" or the "Company") (NASDAQ:DBGI), a curated collection of luxury lifestyle, digital-first brands, announced today that it will effect a 1-for-25 reverse stock split ("Reverse Stock Split") of its common stock, par value $0.0001 per share ("Common Stock"), that will become effective on August 22, 2023, at 12:01 a.m., Eastern Time, pursuant to the vote of its shareholders on August 21, 2023. DBG's Common Stock will continue to trade on The Nasdaq Capital Market ("Nasdaq") under the existing symbol "DBGI" and will begin trading on a split-adjusted basis when the market opens on August 22, 2023. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 25401N 408.