Form 8-K - Current report
03 October 2023 - 8:25AM
Edgar (US Regulatory)
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2023-09-26
2023-09-26
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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:
September
26, 2023
Gaucho
Group Holdings, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-40075 |
|
52-2158952 |
State
of |
|
Commission
|
|
IRS
Employer |
Incorporation |
|
File
Number |
|
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 in our Current Report on Form 8-K as filed with the Securities and Exchange Commission on February 21, 2023, on February
21, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an institutional investor,
pursuant to which the Company agreed to sell to the investor a series of 7% senior secured convertible notes of the Company in the aggregate
original principal amount of $5,617,978 (the “Notes”), and a series of common stock purchase warrants of the Company.
On
September 26, 2023, at the election of the investor, a total of $73,141 of principal, $5,120 of interest, $11,739 of premium, and $19,467
of cash true up was converted into 33,334 shares of common stock of the Company at a conversion price of $2.70 per share.
On
September 27, 2023, at the election of the investor, a total of $292,564 of principal, $20,479 of interest, $46,957 of premium, and $132,749
of cash true up was converted into 133,336 shares of common stock of the Company at a conversion price of $2.70 per share.
For
these sales of securities, there was no general solicitation and no commissions paid, all purchasers were accredited investors, and the
Company is relying on the exemption from registration available under Section 4(a)(2) and/or Rule 506(b) of Regulation D promulgated
under the Securities Act with respect to transactions by an issuer not involving any public offering. A Form D was filed with the Securities
and Exchange Commission (“SEC”) on March 3, 2023.
On
September 29, 2023, pursuant to the Common Stock Purchase Agreement with Tumim Capital dated November 8, 2022, the Company requested
a draw-down and issued shares of common stock and received gross proceeds as follows: 29,364 shares of common stock to Tumim for gross
proceeds of $52,988. No general solicitation was used, and a commission of 8% of the total gross proceeds was paid to Benchmark Investments,
Inc. pursuant to the Underwriting Agreement between the Company and Kingswood Capital Markets, a division of Benchmark Investments, Inc.,
f/k/a EF Hutton, dated February 16, 2021. The Company relied on the exemptions from registration available under Section 4(a)(2) and/or
Rule 506(b) of Regulation D of the Securities Act, in connection with the sales. A Form D was filed with the SEC on November 21, 2022.
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 2nd day of October 2023.
|
Gaucho
Group Holdings, Inc. |
|
|
|
|
By:
|
/s/
Scott L. Mathis |
|
|
Scott
L. Mathis, President & CEO |
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