Digital Brands Group Close Small, $10M IPO

Los Angeles-based Digitl Brands Group, which owns a portfolio of what it calls “digital native” apparel brands, has closed a small, $10M initial public offering, the company said on Tuesday afternoon. The company says it sells its apparel through numerous brands on a both direct-to-consumer and wholesale basis. The company trades on the NADAQ as DBGI. The company said it sold 2,409,639 shares of common stock and warrants to purchase 2,771,084 shares of common stock at $4.15 per share. The offering was run by Kingswood Capital Markets. As part of the IPO, the company said it acquired Harper & Jones, LLC. Harper & Jones is a provider of custom men’s suits.