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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report:
November 20, 2023
Gaucho Group Holdings, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-40075 | 52-2158952 | ||
|
State of Incorporation |
Commission File Number |
IRS Employer Identification No. |
112 NE 41st Street, Suite 106
Miami, FL 33137
Address of principal executive offices
212-739-7700
Telephone number, including Area code
Former name or former address if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| ☐ | Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| ☐ | Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock | VINO | The Nasdaq Stock Market LLC |
Item 8.01 Other Events
On November 20, 2023, Gaucho Group Holdings, Inc. (the “Company”) issued a press release regarding the Argentina election. The full text of the press release is furnished hereto as Exhibit 99.1 and incorporated herein by reference.
Also on November 20, 2023, the Company gave a stockholder update referencing the press release noted above. The full text of the update is furnished hereto as Exhibit 99.2 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 99.1 | Press release dated November 20, 2023 | |
| 99.2 | Stockholder update dated November 20, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on the 20th day of November 2023.
| Gaucho Group Holdings, Inc. | ||
| By: | /s/ Scott L. Mathis | |
| Scott L. Mathis, President & CEO | ||
Exhibit 99.1
“A HISTORIC LEAP FOR ARGENTINA’S ECONOMY”: GAUCHO GROUP HOLDINGS HAILS PRESIDENTIAL ELECTION AS CATALYST FOR UNPRECEDENTED GROWTH
Chairman Scott Mathis Shares Insight on Argentina’s Potentially Transformative Era for Argentine Real Estate and Economic Growth
MIAMI, FL / November 20, 2023 / Gaucho Group Holdings, Inc. (Gaucho Holdings) (Gauchoholdings.com) (NASDAQ: VINO), an organization with deep roots in Argentina’s luxury real estate, hospitality, and wine industries, today expressed its positive outlook on the recent election of President Javier Milei in Argentina. The company believes this political shift presents a significant opportunity for economic revitalization and investment growth, particularly in the real estate sector.
In an election that has marked a historic shift in Argentina’s political landscape, Gaucho Group Holdings, Inc. views the election of Javier Milei, known for his radical economic policies, as a promising development for the nation’s economy and international investments. Scott Mathis, Chairman and CEO of Gaucho Holdings, commented, “When a country like Argentina shifts from a position of no leverage to leverage, the implications are profound. This could very well be the greatest movement in asset valuation in real estate since the post-World War II era.”
With the election of President Milei, Argentina is poised for a substantial shift in its economic policies and global financial relationships. Gaucho Holdings sees this as an alignment with its vision for a more robust and competitive Argentina on the world stage. The potential economic benefits under Milei’s administration are already evident, with Argentine shares rising 28% on Wall Street and sovereign bonds climbing by 6 percent as of Monday, November 20th. This positive market reaction highlights the confidence of international investors in Argentina’s new economic direction.
The company supports the idea of Argentina’s dollarization, viewing the critics’ argument of needing $40 billion as overly simplistic. The dollarization process will likely be a gradual one that can stabilize the Argentine economy. Furthermore, with global trends moving away from dollar dependency, as seen in BRICS nations, Gaucho Holdings anticipates the U.S. will support Argentina’s economic shift, enhancing its global economic standing.
The company foresees substantial benefits for the banking and real estate sectors, expecting more accessible lending rates and a thriving property market in the wake of these changes. This outlook aligns with expert opinions, like those of Doug Casey, predicting an economic boom as Argentina possibly becomes one of the world’s wealthiest nations once again.
Gaucho Group Holdings, Inc. remains committed to contributing to and benefiting from Argentina’s potential economic resurgence. The company is enthusiastic about the opportunities this new chapter presents for innovation, stability, and growth in Argentina’s economy.
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc.’s (gauchoholdings.com) mission has been to source and develop opportunities in Argentina’s undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho – Buenos Aires® (gaucho.com), these are the luxury brands in which Argentina finds its contemporary expression.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included herein concerning, among other things, changes to exchange rates and their impact on the Company, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. Refer to our risk factors set forth in our reports filed on Edgar. The Company disclaims any obligation to update any forward-looking statement made here.
Exhibit 99.2
