AUSTIN,
Texas, Nov. 10, 2023 /PRNewswire/ -- Digital
Brands Group, Inc. ("we", "us", "DBG" or the "Company") (NASDAQ:
DBGI), today announced that the Company's 2023 Annual Meeting of
Shareholders ("Annual Meeting") will be held virtually on
Friday, December 22, 2023, at
9:30 a.m. ET. The agenda of the
Annual Meeting includes proposals to: elect five directors, approve
an amendment to the Company's 2020 Omnibus Incentive Stock Plan
(the "2020 Plan") to increase the aggregate number of shares of
Common Stock authorized for issuance under the 2020 Plan, approve a
CEO performance stock award agreement in compliance with Nasdaq
rules and to ratify the Company's appointment of Macias Gini & O'Connell LLP as the Company's
independent registered public accounting firm for the year ended
December 31, 2023. Additional
information regarding the Company's Annual Meeting will be
disclosed in the Company's Definitive Proxy Statement to be sent to
shareholders entitled to notice of and to vote at the Annual
Meeting.
The record date for the determination of shareholders of the
Company entitled to receive notice of and to vote at the Annual
Meeting has been set as the close of business on November 7, 2023. Because the date of the Annual
Meeting will be held more than 30 days after the anniversary date
of the Company's 2022 annual meeting of shareholders, pursuant to
Rule 14a-8 ("Rule 14a-8") under the Securities and Exchange Act of
1934, as amended (the "Exchange Act"), the Company is setting a
deadline for receipt of Rule 14a-8 shareholder proposals that is a
reasonable time before the Company expects to begin to print and
send its proxy materials. Accordingly, the Company has fixed the
new deadline for the submission of proposals to be included in the
proxy statement for the Annual Meeting as November 20, 2023. Any proposal submitted after
the above deadline will not be considered timely and will be
excluded from the Company's proxy materials. Shareholder proposals
must comply with the Company's Bylaws and the U.S. Securities and
Exchange Commission's (the "SEC") rules regarding the inclusion of
stockholder proposals in proxy materials and the Company may omit
from its proxy materials any proposal that does not comply with the
SEC's rules.
Pursuant to the Company's Bylaws, any shareholder who wishes to
make a nomination or introduce an item of business at the Annual
Meeting, other than pursuant to Rule 14a-8 under the Exchange Act,
must comply with the procedures set forth in our Bylaws, including
delivering proper notice to us in writing to our Corporate
Secretary at our principal executive offices not later than the
close of business on November 20,
2023, which is the tenth day following the date of this
press release, and which the Company believes is reasonable time
before it begins to print and mail proxy materials for the Annual
Meeting. The notice must contain the information specified in our
Bylaws.
In addition, to comply with the SEC's universal proxy rules,
shareholders who intend to solicit proxies in support of director
nominees other than the Company's nominees must provide notice in
writing to our Corporate Secretary at our principal executive
offices that sets forth the information required by Rule 14a-19
under the Exchange Act, no later than November 20, 2023, which is the tenth day
following the date of this press release.
Notices of intention to present proposals or nominate directors
at the 2023 Annual Meeting, and all supporting information required
by SEC rules and our Bylaws, as applicable, must be submitted to:
Corporate Secretary of Digital Brands Group, Inc., 1400 Lavaca
Street, Austin, Texas 78701.
Forward-looking Statements
Certain statements contained in this press release constitute
forward-looking statements that are made in reliance upon the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. The words "anticipates," "projects," "intends,"
"estimates," "expects," "believes," "plans," "may," "will,"
"should," "could," and other similar expressions are intended to
identify such forward-looking statements. Management has based
these forward-looking statements on its current expectations,
assumptions, estimates and projections. While they believe these
expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions
and involve known and unknown risks and uncertainties, many of
which are beyond management's control. These statements involve
risks and uncertainties that may cause the Company's actual
results, performance or achievements to differ materially from any
future results, performance or achievements expressed or implied by
these forward-looking statements as a result of various important
factors, as well as market and other conditions and those risks
more fully discussed in the section titled "Risk Factors" in the
Company's most recent Annual Report on Form 10-K, as well as
discussions of potential risks, uncertainties, and other important
factors in the Company's other filings with the Securities and
Exchange Commission. Forward-looking statements speak only as of
the date they are made. Readers are cautioned not to put undue
reliance on forward-looking statements, and, except as required by
law, the Company assumes no obligation and does not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
About Digital Brands Group, Inc.
We 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. Digital native first brands are brands
founded as e-commerce driven businesses, where online sales
constitute a meaningful percentage of net sales, although they
often subsequently also expand into wholesale or direct retail
channels., Unlike typical e-commerce brands, as a digitally native
vertical brand we control our own distribution, sourcing products
directly from our third-party manufacturers and selling directly to
the end consumer. 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. We have strategically expanded into an omnichannel brand
offering these styles and content not only on-line but at selected
wholesale and retail storefronts. We believe this approach allows
us opportunities to successfully drive Lifetime Value ("LTV") while
increasing new customer growth.
Company Contact
Digital Brands Group, Inc.
Hil Davis, CEO
Email: invest@digitalbrandsgroup.co
Phone: (800) 593-1047
Related
Links
https://www.digitalbrandsgroup.co
https://ir.digitalbrandsgroup.co
View original
content:https://www.prnewswire.com/news-releases/digital-brands-group-inc-announces-date-for-2023-annual-meeting-of-shareholders-301985175.html
SOURCE Digital Brands Group, Inc.