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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report:
November
20, 2023
Gaucho
Group Holdings, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-40075 |
|
52-2158952 |
State
of
Incorporation |
|
Commission
File
Number |
|
IRS
Employer
Identification
No. |
112
NE 41st Street, Suite 106
Miami,
FL 33137
Address
of principal executive offices
212-739-7700
Telephone
number, including Area code
Former
name or former address if changed since last report
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
|
☐ |
Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
|
☐ |
Pre-commencement
communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
|
☐ |
Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock |
|
VINO |
|
The
Nasdaq Stock Market LLC |
Item
8.01 Other Events
On
November 20, 2023, Gaucho Group Holdings, Inc. (the “Company”) issued a press release regarding the Argentina election. The
full text of the press release is furnished hereto as Exhibit 99.1 and incorporated herein by reference.
Also
on November 20, 2023, the Company gave a stockholder update referencing the press release noted above. The full text of the update is
furnished hereto as Exhibit 99.2 and incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized, on the 20th day of November 2023.
|
Gaucho
Group Holdings, Inc. |
|
|
|
|
By: |
/s/
Scott L. Mathis |
|
|
Scott
L. Mathis, President & CEO |
Exhibit
99.1
“A
HISTORIC LEAP FOR ARGENTINA’S ECONOMY”: GAUCHO GROUP HOLDINGS HAILS PRESIDENTIAL ELECTION AS CATALYST FOR UNPRECEDENTED GROWTH
Chairman
Scott Mathis Shares Insight on Argentina’s Potentially Transformative Era for Argentine Real Estate and Economic Growth
MIAMI,
FL / November 20, 2023 / Gaucho Group Holdings, Inc. (Gaucho Holdings) (Gauchoholdings.com) (NASDAQ: VINO), an organization with
deep roots in Argentina’s luxury real estate, hospitality, and wine industries, today expressed its positive outlook on the recent
election of President Javier Milei in Argentina. The company believes this political shift presents a significant opportunity for economic
revitalization and investment growth, particularly in the real estate sector.
In
an election that has marked a historic shift in Argentina’s political landscape, Gaucho Group Holdings, Inc. views the election
of Javier Milei, known for his radical economic policies, as a promising development for the nation’s economy and international
investments. Scott Mathis, Chairman and CEO of Gaucho Holdings, commented, “When a country like Argentina shifts from a position
of no leverage to leverage, the implications are profound. This could very well be the greatest movement in asset valuation in real estate
since the post-World War II era.”
With
the election of President Milei, Argentina is poised for a substantial shift in its economic policies and global financial relationships.
Gaucho Holdings sees this as an alignment with its vision for a more robust and competitive Argentina on the world stage. The potential
economic benefits under Milei’s administration are already evident, with Argentine shares rising 28% on Wall Street and sovereign
bonds climbing by 6 percent as of Monday, November 20th. This positive market reaction highlights the confidence of international investors
in Argentina’s new economic direction.
The
company supports the idea of Argentina’s dollarization, viewing the critics’ argument of needing $40 billion as overly simplistic.
The dollarization process will likely be a gradual one that can stabilize the Argentine economy. Furthermore, with global trends moving
away from dollar dependency, as seen in BRICS nations, Gaucho Holdings anticipates the U.S. will support Argentina’s economic shift,
enhancing its global economic standing.
The
company foresees substantial benefits for the banking and real estate sectors, expecting more accessible lending rates and a thriving
property market in the wake of these changes. This outlook aligns with expert opinions, like those of Doug Casey, predicting an economic
boom as Argentina possibly becomes one of the world’s wealthiest nations once again.
Gaucho
Group Holdings, Inc. remains committed to contributing to and benefiting from Argentina’s potential economic resurgence. The company
is enthusiastic about the opportunities this new chapter presents for innovation, stability, and growth in Argentina’s economy.
About
Gaucho Group Holdings, Inc.
For
more than ten years, Gaucho Group Holdings, Inc.’s (gauchoholdings.com) mission has been to source and develop opportunities in
Argentina’s undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the
continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury
goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com
& algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary
Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho – Buenos Aires®
(gaucho.com), these are the luxury brands in which Argentina finds its contemporary expression.
Cautionary
Note Regarding Forward-Looking Statements
The
information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts,
included herein concerning, among other things, changes to exchange rates and their impact on the Company, planned capital expenditures,
future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other
plans and objectives for future operations, are forward looking statements. Although we believe that the expectations reflected in these
forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be
considered to be) guarantees of future performance. Refer to our risk factors set forth in our reports filed on Edgar. The Company disclaims
any obligation to update any forward-looking statement made here.
Exhibit
99.2
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