Gaucho Group Holdings, Inc.: debt financing — Gaucho Group faces $3.4M default demand from 3i; equity line terminated

Gaucho Group Holdings, Inc.

Tumim Stone Capital terminated ELOC effective March 7, 2024; no penalties incurred.
3i, LP demanded immediate payment of at least $3,437,645.74 under default provisions of Note Documents.
Interest on outstanding note automatically increases to 18% per annum; redemption premium of 115% applies.
Company asserts Note Documents illegal due to 3i's failure to register as dealer under Exchange Act.
CEO says default notice is retaliatory; lawsuit seeks to void contracts and rescind transactions.

item 1.02 item 2.04 item 7.01 item 1.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Gaucho Group Holdings, Inc. reported a default on debt of $5,617,978 with 3i, LP at 7% to 18% per annum.

Principal: $5,617,978
Counterparty: 3i, LP
Rate: 7% to 18% per annum
Event: default

Exact text from the filing

with 3i, LP (“3i”), pursuant to which the Company sold to 3i a series of 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, which warrants shall be exercisable into an aggregate of 337,710 shares of common stock of the

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Gaucho Group Holdings, Inc. terminated Common Stock Purchase Agreement with Tumim Stone Capital LLC (effective 2024-03-07).

Action: termination
Agreement: equity purchase
Counterparty: Tumim Stone Capital LLC
Effective: 2024-03-07

Exact text from the filing

urrent Report on Form 8-K filed November 9, 2022, the Company entered into a Common Stock Purchase Agreement (the “Purchase Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”) each dated November 8, 2022 with Tumim Stone Capital

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001493152-24-007962

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