\nThis Eliminates a Total of 16.7 Million in Dilution Overhang Over the Last Three Days<\/b><\/p>
AUSTIN, Texas--(BUSINESS WIRE)--$DBGI<\/a> #DBG<\/a>--DBGI Corp. (NASDAQ:DBGI) <\/b>a publicly traded company specializing in eCommerce and fashion today announced that 9.6 million in outstanding cash warrants expired Wednesday, June 17th<\/sup>. This eliminates a significant dilution overhang from these expired cash warrants.<\/p> \nThese expired 9.6 million cash warrants are in addition to the 7.1 million pre-funded warrants the Company cancelled, and announced, earlier this week on Monday, June 15th. This eliminates a total of 16.7 million in dilution overhang over the last three days.<\/p> \nAbout Digital Brands Group<\/b><\/p> \nWe offer a wide variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis. We have created a business model derived from our founding as a digitally native-first vertical brand. We focus on owning the customer's \"closet share\" by leveraging their data and purchase history to create personalized targeted content and looks for that specific customer cohort.<\/p> \nForward-looking Statements<\/i><\/b><\/p> \nCertain statements included in this release are \"forward-looking statements\" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting DBG and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as \u201cwill,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cshould,\u201d and \u201cmay\u201d and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding DBG\u2019s plans, objectives, projections and expectations relating to DBG\u2019s operations or financial performance, and assumptions related thereto are forward-looking statements. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. DBG undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of DBG to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis, including the coronavirus (COVID-19) global pandemic; the level of consumer demand for apparel and accessories; disruption to DBGs distribution system; the financial strength of DBG\u2019s customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; DBG\u2019s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; intense competition from online retailers; manufacturing and product innovation; increasing pressure on margins; DBG\u2019s ability to implement its business strategy; DBG\u2019s ability to grow its wholesale and direct-to-consumer businesses; retail industry changes and challenges; DBG\u2019s and its vendors\u2019 ability to maintain the strength and security of information technology systems; the risk that DBG\u2019s facilities and systems and those of our third-party service providers may be vulnerable to and unable to anticipate or detect data security breaches and data or financial loss; DBG\u2019s ability to properly collect, use, manage and secure consumer and employee data; stability of DBG\u2019s manufacturing facilities and foreign suppliers; continued use by DBG\u2019s suppliers of ethical business practices; DBG\u2019s ability to accurately forecast demand for products; continuity of members of DBG\u2019s management; DBG\u2019s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; DBG\u2019s ability to execute and integrate acquisitions; changes in tax laws and liabilities; legal, regulatory, political and economic risks; adverse or unexpected weather conditions; DBG's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent DBG from fulfilling its financial obligations; and climate change and increased focus on sustainability issues. More information on potential factors that could affect DBG\u2019s financial results is included from time to time in DBG\u2019s public reports filed with the SEC, including DBG\u2019s Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.<\/p>