Gaucho Group Holdings Inc (VINO) has released an update to notify the public and investors about the unregistered sales of equity securities.
Gaucho Group Holdings, Inc. initiated a private placement of its common stock with the intention to raise up to $4,000,000, issuing shares at a minimum price of $0.60 each in compliance with the Nasdaq minimum price rules. The company successfully issued 300,000 shares for $180,000 on January 26, 2024, and another 216,667 shares for $130,000 on January 30, 2024. This private placement targeted a select group of accredited investors with whom the company had pre-existing relationships, and was conducted in accordance with specific sections of the Securities Act. All necessary forms and amendments were filed in accordance with regulations.
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For a comprehensive understanding of the announcement, you can read the full document here.
