DSTLD CEO Says Ready to Proceed with Goal of Listing on NASDAQ Following Close of Reg A+ Offering

DSTLD (or Digital Brands Group), a fashion brand and direct to consumer e-retailer, is preparing to close its Reg A+ investment crowdfunding offer hosted on StartEngine. Once the offer closes, DSTLD appears to be ready to try and list its shares on NASDAQ, according to a missive from the company’s CEO.

In an email CEO Hil Davis stated:

“It is time for us to take the next step of the journey and proceed with our goal to list on the NASDAQ. We will use the public stock to make acquisitions quickly and at accretive prices. We believe that if we can trade at a higher multiple than we can acquire, then we will add meaningful shareholder value.”

DSTLD’s Reg A+ offering stands today at $4.7 million raised from 2842 investors. The pre-money valuation has been pegged at $35 million. The company hopes to grow revenue to over $250 million in the next five years (or longer).

DSTLD has listed multiple investment crowdfunding offers. Previously, DSTLD offered shares on SeedInvest back in 2016. The firm returned to SeedInvest the following year. A round was also hosted on SeedInvest partner Crowdcube. At that time, DSTLD said it planned a listing on the AIM in the UK. In total, DSTLD reports about $8 million in funding from the various crowdfunding rounds.

While the goal to trade shares in DSTLD on a public exchange (AIM, OTC Markets or NASDAQ) has been delayed several times, perhaps 2020 will be the year?

DSTLD states that it has already spoken to investment banks to take the company public.

“We have our path set and are marching down that path.”

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