Gaucho Group (NASDAQ:VINO) Announces Completion of Private Placement Identified in Recent 8-K Filing

Gaucho Group Holdings, Inc. (NASDAQ:VINO) has disclosed in a recent 8-K filing with the Securities and Exchange Commission that it has concluded a private placement of Preferred Stock and promissory notes to raise additional capital for the company.

The company’s Board of Directors approved the private placement of 100,000 shares of Senior Convertible Preferred Stock and 8.5% promissory notes, with an aggregate proceeds target of up to $7.2 million. This offering was made under Section 4(a)(2) of the 1933 Act and Rule 506(b) of Regulation D.

Initially, Gaucho Group was limited to selling 6,731 shares of Senior Convertible Preferred Stock, amounting to $637,100, until stockholder approval was obtained at the 2024 Annual General Meeting of Stockholders. Following the meeting, the Notes totaling $3,306,425 and $21,243 in interest were converted into a total of 33,286 shares of Preferred Stock.

Between August and November 2024, the company raised $1,028,307 and issued a total of 10,284 shares of Preferred Stock. Importantly, these securities were offered exclusively to a select group of accredited investors with pre-existing relationships with the company, without the use of general solicitation.

The company highlighted that the foregoing details regarding the Preferred Stock and the offering are outlined fully in the Certificate of Designation, which was filed as part of the Current Report with the SEC on May 22, 2024.

Gaucho Group Holdings emphasized that the Form 8-K filing does not constitute an offer to sell any securities and it is not soliciting any offers to buy. Moreover, the company stressed that no sale of any such securities will occur in any jurisdiction where it is unlawful without proper registration or qualification under relevant securities laws.

Following completion of the transaction, all common stockholders of Catalent are entitled to receive $63.50 per share in cash, marking a premium of approximately 47.5% over the 60-day volume-weighted average price as of February 2, 2024. Catalent’s common stock has consequently ceased trading and will be delisted from the New York Stock Exchange.

Citi and J.P. Morgan acted as financial advisors to Catalent, while Skadden, Arps, Slate, Meagher & Flom LLP and Jones Day provided legal counsel. On the other side, Morgan Stanley & Co. LLC, Goodwin Procter LLP, Linklaters LLP, Davis Polk & Wardwell LLP, and Arnold & Porter Kaye Scholer LLP were involved as advisors representing Novo Holdings and Novo Nordisk.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Gaucho Group’s 8K filing here.

Gaucho Group Company Profile

Gaucho Group Holdings, Inc, through its subsidiaries, engages in the investment, development, management, and operation of real estate projects in Argentina. Its development projects include residential vineyard lots. The company also owns and operates boutique hotels, hospitality, and luxury vineyard property market; golf, tennis, and wellness resorts; as well as restaurant; and engages in production and sale of wine.