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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
30, 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
3.02 Unregistered Sales of Equity Securities.
As
previously reported on our Current Report on Form 8-K filed on February 21, 2023, Gaucho Group Holdings, Inc. (the “Company,”
“we,” “us” or “our”), and an institutional investor (the “Holder”) entered into that
certain Securities Purchase Agreement, dated as of February 21, 2023 (the “Securities Purchase Agreement”) and the Company
issued to the Holder a senior secured convertible note, as amended (the “Note”) and warrant to purchase 337,710 shares of
common stock of the Company (the “Warrant” and together with the Securities Purchase Agreement and the Note, the “Note
Documents”). For the full description of the Note Documents, please refer to our Current Report on Form 8-K and the exhibits attached
thereto as filed with the SEC on February 21, 2023.
On
December 1, 2023, pursuant to the Note, the investor elected to convert a total of $57,957 of principal, $2,857 of interest, and $9,122.10
of premium into 145,000 shares of common stock of the Company at a conversion price of $0.4823 per share.
The
shares of common stock that have been and may be issued under the Note Documents are being offered and sold in a transaction exempt from
registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on Section 4(a)(2) thereof
and/or Rule 506(b) of Regulation D thereunder. The Company filed a Form D with the SEC on or about March 3, 2023.
As
previously reported on our Current Report on Form 8-K filed on November 27, 2023, the Company commenced a private placement of shares
of common stock for gross proceeds of up to $4,000,000 at a price per share which equals the
Nasdaq Rule 5653(d) Minimum Price definition, but in no event at a price per share lower than $0.60) (the “Private Placement”).
On
November 30, 2023, pursuant to the Private Placement, the Company issued a total of 346,535 shares of common stock for gross proceeds
of $210,000 at $0.606 per share.
On
December 1, 2023, pursuant to the Private Placement, the Company issued a total of 100,000 shares of common stock for gross proceeds
of $60,000 at $0.60 per share.
On December 4, 2023, pursuant to the Private
Placement, the Company issued a total of 1,000,000 shares of common stock for gross proceeds of $600,000 at $0.60 per share.
Pending
approval by the stockholders at the Company’s Special Meeting of Stockholders scheduled for December 28, 2023,
each investor in the Private Placement will be afforded certain anti-dilution protections for a period of 18 months following
each closing of the Private Placement. If, during the 18-month period following each closing of the Private Placement, the Company issues or sells any
shares of common stock of the Company (a “Dilutive Issuance”), then each participant in the Private Placement will automatically
be issued such number of shares of common stock as is necessary to maintain the percentage ownership that such participant would have
had if the Dilutive Issuance had not occurred.
The
Company presently intends to use the net proceeds from the Private Placement to extinguish debt, fund infrastructure development at Algodon
Wine Estates, and for general working capital. The Company anticipates that the Private Placement will be completed within a month from
date of commencement.
The
Private Placement is conducted pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D promulgated under
the Securities Act. The shares are only offered to a small select group of accredited investors, as defined in Rule 501 of Regulation
D, all of whom have a substantial pre-existing relationship with the Company. The Company will file a Form D within 15 days of the first
date of sale.
This
current report on Form 8-K is issued in accordance with Rule 135c under the Securities Act, and is neither an offer to sell any securities,
nor a solicitation of an offer to buy, nor shall there be any sale of any such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
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 6th day of December 2023.
|
Gaucho
Group Holdings, Inc. |
|
|
|
|
By: |
/s/
Scott L. Mathis |
|
|
Scott
L. Mathis, President & CEO |
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