Gaucho Group 1-for-10 reverse stock split effective May 1, 2024 to meet Nasdaq $1 bid price

Gaucho Group Holdings, Inc.

Reverse split at 1:10 reduces shares outstanding from ~7.96M to ~796k, effective 12:01 a.m. ET on May 1, 2024.
Purpose: to cure Nasdaq minimum $1.00 bid price deficiency; prior 1:10 split on Sep 25, 2023 failed to regain compliance.
Stockholder approved split range 1:2 to 1:10 on Feb 29, 2024; Board selected 1:10 on Apr 19, 2024.
No fractional shares issued; holders of fractional shares receive one whole post-split share.
Trading symbol VINO unchanged; new CUSIP 36809R503; no change to authorized shares or par value.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Gaucho Group Holdings, Inc.: Amended and restated Certificate of Incorporation to effect a 1-for-10 reverse stock split (effective 2024-05-01).

Change: charter amendment
Effective: 2024-05-01

Exact text from the filing

The Company will effect the Reverse Stock Split pursuant to the Company’s filing of the Certificate with the Delaware Secretary of State effective 12:01 a.m., Eastern Time, on May 1, 2024

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Source: SEC EDGAR

accession 0001493152-24-016867

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