Digital Brands Group, Inc. amended the floor price provision governing its Series D Convertible Preferred Stock, the company said in a filing with the SEC.
The filing includes an amendment to the Certificate of Designations, Preferences and Rights of the company's Series D Convertible Preferred Stock, the filing said.
The amendment revises the definition of 'Floor Price' in Section 1(z) of the Certificate of Designations. Under the new language, the Floor Price is set at 20% of the lower of two figures: the closing price of the company's common stock as reflected on Nasdaq.com immediately preceding the date of the Certificate of Amendment, or the average closing price of the common stock on Nasdaq.com over the five trading days immediately preceding that date, the filing said.
The document states that except as expressly amended, the existing Certificate of Designations for the Series D Convertible Preferred Stock remains in full force and effect.
The Certificate of Amendment was signed by John Hilburn Davis IV, Chief Executive Officer of Digital Brands Group, Inc., on July 16, 2026, according to the filing. Digital Brands Group is incorporated in Nevada, the filing noted.