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Gaucho Group Holdings Inc (VINO) just unveiled an announcement.
Gaucho Group Holdings, Inc. is navigating complex financial waters, having sold convertible notes and stock purchase warrants to 3i, LP, but now faces an Event of Default notice for failing to manage a conversion. This notice triggered an increase in interest rates and could lead to 3i exercising various remedies, including converting the note into shares or taking control of the company’s assets. Simultaneously, the company has been raising funds through a private placement of common stock, offering anti-dilution protections to investors. Amidst these financial maneuvers, Gaucho has launched a new website for its subsidiary, Algodon Wine Estates, as it continues to evolve its business strategy.
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