Digital Brands Group Receives Default Notice From Shakawe Capital on $3.53 Million Convertible Note

Bitget2026/11/02 11:03

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Digital Brands Group received a default notice from Shakawe Capital on October 29, 2026, covering its $3.53 million unsecured convertible promissory note.
Alleged defaults include a missed $1 million payment due October 23, 2026, and an August 7, 2026, registration statement filing deadline.
Shakawe demanded immediate repayment at 120% of outstanding principal, accrued interest and other amounts owing, with additional damages; default interest is 20% annually.
The holder threatened legal proceedings unless it received an acceptable extension proposal by the end of October 29, 2026.
The company disputes certain assertions and is evaluating a negotiated resolution or extension.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Digital Brands Group Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-049482), on November 02, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Digital Brands Group Receives Default Notice From Shakawe Capital on $3.53 Million Convertible Note

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