Form 8-K
8-K — Digital Brands Group, Inc.
Accession: 0001493152-26-028546
Filed: 2026-06-15
Period: 2026-06-09
CIK: 0001668010
SIC: 5600 (RETAIL-APPAREL & ACCESSORY STORES)
Item: Entry into a Material Definitive Agreement
Item: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item: Unregistered Sales of Equity Securities
Item: Financial Statements and Exhibits
Documents
8-K — form8-k.htm (Primary)
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EX-10.2 (ex10-2.htm)
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date
of report (Date of earliest event reported): June 9, 2026
DIGITAL
BRANDS GROUP, INC.
(Exact
name of registrant as specified in its charter)
Nevada
001-40400
46-1942864
(State
or other jurisdiction
of
incorporation)
(Commission
File
Number)
(I.R.S.
Employer
Identification
Number)
350
Texas Ave, Suite 250, Round Rock, TX 78664
(Address
of principal executive offices) (Zip Code)
(212)
524-6860
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under
any of the following provisions.
☐
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading
Symbol(s)
Name
of each exchange on which registered
Common
Stock, par value $0.0001 per share
DBGI
The
Nasdaq Stock Market LLC
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01. Entry into a Material Definitive Agreement.
On
June 9, 2026, Digital Brands Group, Inc., a Nevada corporation (the “Company”), entered into a securities purchase agreement
(the “Purchase Agreement”) with 1800 Diagonal Lending, LLC (the “1800 Diagonal”), pursuant to which the 1800
Diagonal made a loan to the Company, evidenced by a promissory note in the aggregate principal amount of $238,050.00, including an original
issue discount of $13,050.00 (the “Note”) with additional tranches of up to $1,015,000.00 during the next twelve (12) months
subject to further agreement. The purchase price of the Note is $207,000.00 (the “Purchase Price”). The Purchase Agreement
contains certain customary representations, warranties, and covenants made by the Company. Under the Note, the Company is required to
make nine (9) payments of $29,624.00, which includes a one-time interest charge of twelve percent (12%) ($28,566.00). The first payment
is due on July 15, 2026, with eight subsequent payments due each month thereafter. The Note matures on March 15, 2027, and contains customary
events of default.
Upon
the occurrence of any event of default under the Note, (i) the Note will become immediately due and payable in an amount equal to 150%
times the outstanding principal and accrued interest under the Note plus default interest at the rate of twenty-two percent (22%) per
annum (the “Default Amount”), and (ii) 1800 Diagonal will have the right to convert the balance owed under the Note, including
the Default Amount, into shares of common stock of the Company (“Common Stock”) at a conversion price equal to 61% of the
lowest closing bid price during the ten trading days prior to the conversion date. The Note provides that 1800 Diagonal and its affiliates
may not own greater than 4.99% of the Company’s outstanding shares of Common Stock at any time, and that the total aggregate number
of shares of Common Stock that may be issued upon conversion of the Note shall not exceed 19.99% of the shares of Common Stock outstanding
as of June 9, 2026.
The
Company received the Purchase Price minus applicable fees on June 10, 2026, and intends to use the proceeds from the Note for general
working capital purposes.
The
foregoing descriptions of the Note and Purchase Agreement do not purport to be complete and are subject to, and qualified in their entirety
by, the full text of each document, attached hereto as Exhibits 10.1 and 10.2, respectively, and incorporated herein by reference.
Item
2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The
information set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item
3.02 Unregistered Sales of Equity Securities.
To
the extent required by Item 3.02 of Form 8-K, the information contained in Item 1.01of this Current Report on Form 8-K is incorporated
herein by reference. The Company claims an exemption from the registration requirements of the Securities Act of 1933, as amended (the
“Securities Act”), for the private placement of the securities pursuant to Section 4(a)(2) of the Securities Act and/or Regulation
D promulgated thereunder because, among other things, the transaction did not involve a public offering, each recipient is an accredited
investor, each recipient acquired the securities for investment and not resale, and the Company took appropriate measures to restrict
the transfer of the securities.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
No.
Description
10.1
Securities Purchase Agreement between the Company and 1800 Diagonal, dated as of June 9, 2026
10.2
Promissory Note issued by the Company to 1800 Diagonal, dated June 9, 2026
104
Cover Page Interactive Data File (embedded within the
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
DIGITAL BRANDS GROUP, INC.
Dated: June 12, 2026
By:
/s/ John
Hilburn Davis IV
Name:
John Hilburn Davis IV
Title:
President and Chief Executive Officer
EX-10.1
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Jun. 09, 2026
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