Gaucho Group Holdings, Inc.: debt financing — Gaucho receives second default notice from 3i for $3.45M; stockholders approve reverse split and private placement

Gaucho Group Holdings, Inc.

Second Event of Default Redemption Notice from 3i on Feb 28 demands at least $3,450,711.22; interest rate increases from 7% to 18%.
Company suing 3i in Delaware, alleging 3i is an unregistered dealer under the Exchange Act.
Stockholders approved reverse stock split (1:2 to 1:10) and private placement of up to $7.2 million.
Proposal to issue shares under the 2023 security purchase agreement with 3i was not approved.
First default notice on Feb 21 demanded $3,437,645.74; company believes defaults are retaliation for its lawsuit.

item 2.04 item 5.07 item 7.01 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. faced acceleration on convertible notes with 3i, LP at 7% to 18% per annum.

Instrument: convertible notes
Counterparty: 3i, LP
Rate: 7% to 18% per annum
Event: acceleration

Exact text from the filing

On February 28, 2024, the Company received a second Event of Default Redemption Notice from 3i providing notice of an additional Event of Default arising under the Note Documents, and demanding immediate payment of the Event of Default Redemption Price equal to a minimum of $3,450,711.22.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Gaucho Group Holdings, Inc. shareholders rejected Full Issuance of Shares Pursuant to the Security Purchase Agreement at the 2024-02-29 meeting.

Outcome: failed
Meeting: 2024-02-29

Exact text from the filing

Shares FOR Shares AGAINST ABSTAIN Broker Non- Vote 618,319 818,788 39,291 634,691

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Gaucho Group Holdings, Inc. shareholders approved Full Issuance of Shares in a Private Placement at the 2024-02-29 meeting.

Outcome: passed
Meeting: 2024-02-29

Exact text from the filing

Shares FOR Shares AGAINST ABSTAIN Broker Non- Vote 1,083,464 392,635 299 634,691

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Gaucho Group Holdings, Inc. shareholders approved Reverse Stock Split at the 2024-02-29 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2024-02-29

Exact text from the filing

Shares FOR Shares AGAINST ABSTAIN 1,463,158 647,533 398

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Gaucho Group Holdings, Inc. shareholders approved Full Issuance of Shares in Connection with an ELOC at the 2024-02-29 meeting.

Outcome: passed
Meeting: 2024-02-29

Exact text from the filing

Shares FOR Shares AGAINST ABSTAIN Broker Non- Vote 1,191,759 284,356 283 634,691

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

Source: SEC EDGAR

accession 0001493152-24-008602

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