---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-016241"
form_type: "8-K"
ticker: null
cik: "0001782627"
company_name: "Winc, Inc."
filed_at: "2023-01-26T23:59:59+00:00"
generated_at: "2026-06-20T08:23:55.178458+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Winc closes $11M asset sale to PCAC in bankruptcy; terminates CEO, CFO, COO

## Summary
- Sale of substantially all assets to Project Crush Acquisition Corp for $11M closed Jan 23, 2023.
- Proceeds to repay debtor-in-possession term loan (owed to PCAC) and Banc of California credit agreement.
- President/Interim CEO Brian Smith, CFO Carol Brault, COO Erin Green terminated effective Jan 20.
- COO Erin Green subsequently employed by PCAC.
- Stock previously suspended from NYSE American, now trades on OTC Pink under WBEVQ.

## SEC filing metadata
- accession: 0001193125-23-016241
- form_type: 8-K
- cik: 0001782627
- company_name: Winc, Inc.
- filed_at: 2023-01-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1782627/000119312523016241/0001193125-23-016241-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1782627/000119312523016241/d438781d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-016241
- JSON: https://secwatch.observer/filing/0001193125-23-016241.json
- Plain text: https://secwatch.observer/filing/0001193125-23-016241.txt

## Key facts
- Executive change
  Erin Green was terminated as Chief Operating Officer at Winc, Inc..
  - Action: terminated
  - Role: Chief Operating Officer
  source text: In connection with the Closing and effective January 20, 2023, the Company terminated Brian Smith, the Company’s President and Interim Chief Executive Officer, Carol Brault, the Company’s Chief Financial Officer, and Erin Green, the Company’s Chief Operating Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782627/000119312523016241/0001193125-23-016241-index.htm
- Executive change
  Carol Brault was terminated as Chief Financial Officer at Winc, Inc..
  - Action: terminated
  - Role: Chief Financial Officer
  source text: In connection with the Closing and effective January 20, 2023, the Company terminated Brian Smith, the Company’s President and Interim Chief Executive Officer, Carol Brault, the Company’s Chief Financial Officer, and Erin Green, the Company’s Chief Operating Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782627/000119312523016241/0001193125-23-016241-index.htm
- Executive change
  Brian Smith was terminated as President and Interim Chief Executive Officer at Winc, Inc..
  - Action: terminated
  - Role: President and Interim Chief Executive Officer
  source text: In connection with the Closing and effective January 20, 2023, the Company terminated Brian Smith, the Company’s President and Interim Chief Executive Officer, Carol Brault, the Company’s Chief Financial Officer, and Erin Green, the Company’s Chief Operating Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782627/000119312523016241/0001193125-23-016241-index.htm
- M&A Transactions
  Winc, Inc. completed a disposition involving Project Crush Acquisition Corp LLC for $11 million (closed 2023-01-23).
  - Action: disposition
  - Counterparty: Project Crush Acquisition Corp LLC
  - Consideration: $11 million
  - Closing: 2023-01-23
  source text: to which, among other things, the Bankruptcy Court approved the sale of substantially all of the Debtor’ assets to pursuant to a Stalking Horse Agreement for an aggregate of $ $11 million (the “Sale”). On January 23, 2023 the Debtors and PCAC consummated the Sale, thereby completing the disposition of substantially all of the Debtor’s assets in accordance with the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782627/000119312523016241/0001193125-23-016241-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.