06:24 AM EDT, 10/29/2024 (MT Newswires) -- Digital Brands' ( DBGI ) shares were down over 24% in premarket activity Tuesday after the company said overnight it priced an offering of 30 million shares and/or pre-funded warrants to purchase common stock at $0.10 per share.

The company said, late Monday, it expects gross proceeds of $3 million from the offering whose combined pricing excludes $0.0001 per pre-funded warrant.

Digital Brands ( DBGI ) intends to use the net proceeds for working capital, general corporate purposes, and debt repayment.

Price: 0.1170, Change: -0.04, Percent Change: -24.32