Gaucho Group’s Private Placement and AGM Shareholder Decisions

Gaucho Group Holdings (VINO) has issued an announcement.

Gaucho Group Holdings, Inc. has initiated a private placement of Senior Convertible Preferred Stock and promissory notes to raise up to $7.2 million, with a limit of 6,731 shares available before stockholder approval. The notes, convertible at $100 per share, were automatically converted into Preferred Shares upon approval at the Company’s Annual General Meeting (AGM) on August 18, 2024. During the AGM, all six presented proposals were approved by stockholders, including the issuance of shares beyond the 19.99% common stock cap, amendments to the Equity Incentive Plan, and ratification of the company’s accounting firm. David R. Reinecke was elected as a new Class II director, replacing Peter J.L. Lawrence. The company has emphasized that the private placement targeted select accredited investors without general solicitation or commissions.

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