Digital Brands Group Announces 1-for-40 Reverse Stock Split to Solidify Continued Nasdaq Compliance; Reduces Outstanding Common Stock Float To Approximately 557,000 Shares

AUSTIN, Texas--(BUSINESS WIRE)---- $DBGI #DBG--DBGI Corp. (NASDAQ:DBGI) (the “Company”), a publicly traded company specializing in eCommerce and fashion, today announced to solidify its long-term market footing, that it will effect a 1-for-40 reverse stock split (the “Reverse Stock Split”) of its common stock, par value $0.0001 per share (“Common Stock”).The Reverse Stock Split is intended to increase the closing bid price of the Common Stock above $1.00 per share, and to enable the Company to manage continued