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Digital Brands Group receives default notice for $3.5M convertible note over missed payments
DBGIDigital Brands Group, Inc.
Shakawe Capital LLC issued a written notice of default regarding Digital Brands Group's unsecured convertible promissory note with a principal amount of $3,529,412. The Holder cited failures to make a scheduled $1,000,000 partial payment due October 23, 2026, and to file a required registration statement by August 7, 2026. Consequently, the Note is immediately due at 120% of outstanding amounts plus liquidated damages. The Company disputes these assertions and is evaluating resolution options, warning that acceleration or legal proceedings could materially adversely affect liquidity. Digital Brands Group operates in the digital media and brand management industry.