Algodon Wines raises another $992,695 from $3.54 million stock sale

Company sells 1,415,504 common shares at $2.50 per share to investors

By Devika Patel

Knoxville, Tenn., April 1 – Algodon Wines & Luxury Development Group, Inc. completed another $992,695 tranche of a $3.54 million private placement of stock between March 8 and March 31, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal raised $2.22 million between Oct. 6 and Feb. 29 and $330,000 between March 1 and March 7.

The company sold 1,415,504 common shares at $2.50 apiece. It sold 886,426 shares in the first closings, 132,000 shares in the second closings and 397,078 shares in the latest closings.

New York’s Algodon identifies and develops vineyard operations, lifestyle properties and other luxury real estate assets and brands.

Issuer:	Algodon Wines & Luxury Development Group, Inc.
Issue:	Common stock
Amount:	$3,538,760
Shares:	1,415,504
Price:	$2.50
Warrants:	No
Settlement dates:	Between Oct. 6 and Feb. 29 (for $2,216,065), between March 1 and March 7 (for $330,000), between March 8 and March 31 (for $992,695)

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