SPX4,254.26+46.99 1.12%
DIA336.45+2.74 0.82%
IXIC12,965.00+185.09 1.45%

Digital Brands Earlier Reported In SEC Filing Co Received Determination Letter From Staff Of NASDAQ On Compliance

On July 21, 2022, Digital Brands Group, Inc. (the “Company”) received a determination letter (the “Letter”) from the staff (the “Staff”) of The Nasdaq Stock Market LLC

Benzinga · 07/27/2022 17:31

On July 21, 2022, Digital Brands Group, Inc. (the “Company”) received a determination letter (the “Letter”) from the staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company has not regained compliance with the Market Value of Listed Securities (“MVLS”) Standard, since the Company’s common stock, par value $0.0001 per share (the “Common Stock”), was below the $35 million minimum MVLS requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(2) (the “MLVS Rule”) and had not been at least $35 million for a minimum of 10 consecutive business days at any time during the 180-day grace period granted to the Company. As previously disclosed, the Company was initially notified by the Staff on January 19, 2022 that the minimum MVLS for the Company’s Common Stock was below the $35 million minimum MVLS requirement for the previous 30 consecutive business days, and in accordance with the Nasdaq Listing Rules, the Company was provided 180 calendar days, or until July 18, 2022, to regain compliance with the MVLS Rule.