- Digital Brands Group, Inc. (NASDAQ: DBGI) ("Digital Brands" or the "Company"), today announced the underwriters of Digital Brand's previously announced public offering that initially closed on May 18, 2021 have purchased an additional 361,445 shares of common stock pursuant to the exercise by the underwriters of the remaining portion of their over-allotment option at a public offering price of $4.15 per share. Digital Brands has now sold a total of 2,771,084 shares of common stock and warrants to purchase 2,771,084 shares of common stock for aggregate gross proceeds of approximately $11.5 million, prior to deducting underwriting discounts, commissions, and other offering expenses. Can someone please explain this to me ??? I dont get it but i know it can move this stock . Bc its 6/29 and the stock is up ... I think it should be down . Im so confused. Does this mean the the underwritters purchased more stock that can be excerised, like options, at 4.15? The current float is at 5.17 million .. So if 2,771,084 common stocks and warrants are sold at 4.15$, doesnt it mean a tremendous amount of dilution can occur??? Sorry Im a newbie whose just very confused with the lingos and stuff.