Tether Holdings Group Discloses Stake in Adecoagro S.A.

TL;DR

**Tether Group now owns >5% of Adecoagro!**

AI Summary

On August 16, 2024, Tether Holdings Limited, along with Giancarlo Devasini and Ludovicus Jan Van Der Velde, filed a Schedule 13D, indicating they collectively beneficially own more than 5% of Adecoagro S.A. common shares. This filing signifies a significant stake in the agriculture production company.

Why It Matters

This filing signals a substantial investment by a prominent entity in the cryptocurrency space into an agricultural company, potentially indicating strategic interests or diversification efforts.

Risk Assessment

Risk Level: medium — The filing indicates a significant ownership stake by a new group, which could lead to changes in company strategy or governance.

Key Numbers

• 5% — Ownership Threshold (Indicates a significant beneficial ownership stake in Adecoagro S.A.)

Key Players & Entities

• Tether Holdings Limited (company) — Filing entity
• Adecoagro S.A. (company) — Subject company
• Giancarlo Devasini (person) — Group member
• Ludovicus Jan Van Der Velde (person) — Group member

FAQ

Key Financial Figures

• $1.50 — me of Issuer) Common Shares, par value $1.50 per share (Title of Class of Securiti
• $41 million — payment of a civil monetary penalty of $41 million without admitting or denying any of the
• $18.5 million — to settle the NYAG proceeding by paying $18.5 million in penalties to the State of New York.

Filing Documents

• tm2421820d1_sc13d.htm (SC 13D) — 154KB
• 0001104659-24-090580.txt ( ) — 155KB

Security and Issuer

Item 1. Security and Issuer This statement on Schedule 13D relates to the common shares, par value $1.50 per share (“Common Shares”) of Adecoagro S.A., a société anonyme under the laws of the Grand Duchy of Luxembourg (the “Issuer”). The address of the principal executive offices of the Issuer is Vertigo Naos Building, 6, Rue Eugène Ruppert, L - 2453 Luxembourg. The Common Shares are listed on the New York Stock Exchange under the ticker symbol “AGRO”.

Identity and Background

Item 2. Identity and Background (a)(b)(c)(f) This statement is being filed by Tether Holdings Limited, a British Virgin Islands business company, Tether Investments Limited, a British Virgin Islands business company, Ludovicus Jan Van der Velde, a natural person and citizen of the Netherlands and Giancarlo Devasini, a natural person and citizen of Italy (collectively, the “Reporting Persons”). The principal business address of the Reporting Persons is SHRM Trustees (BVI) Limited, P.O. Box 4301, Trinity Chambers, Road Town, Tortola, British Virgin Islands, VG 1110. The principal business of Tether Investments Limited is primarily to make strategic investments in emerging technologies, such as artificial intelligence and peer-to-peer platforms, sustainable Bitcoin mining operations, and digital education initiatives. Tether Investments Limited is also involved in funding and supporting projects that enhance financial inclusion and build resilient financial infrastructure worldwide. Tether Holdings Limited is the holding company for the Tether Group. The principal occupation of each Ludovicus Jan Van der Velde and Giancarlo Devasini is to serve as a director of Tether Holdings Limited. Ludovicus Jan Van der Velde and Giancarlo Devasini are the directors of Tether Holdings Limited and share voting and dispositive power with respect to the securities held by Tether Holdings Limited, including securities held by Tether Investments Limited, its wholly owned subsidiary. Messrs. Van der Velde and Devasini each disclaim beneficial ownership of the securities held by Tether Holdings Limited and Tether Investments Limited. The Reporting Persons have agreed to file this Schedule 13D jointly pursuant to Rule 13d-1(k) under the Securities Exchange Act of 1934. (d) None. (e) None. Certain information regarding Tether Holdings Limited, Tether Investments Limited and their respective executive officers and directors is set forth on Schedule A attached hereto.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration Tether Investments Limited used cash from its own working capital to make the purchases of Common Shares listed on Schedule B hereto. 6

Purpose of the Transaction

Item 4. Purpose of the Transaction The information set forth in Item 3 of this Schedule 13D is incorporated by reference in its entirety into this Item 4. The Reporting Persons have acquired the Common Shares acquired to date for investment purposes, and may from time to time increase (through the acquisition of additional securities of the Issuer) or decrease (through the sale of all or a portion of the Common Shares) their investment in the Issuer, depending upon multiple factors, including the price and availability of the Issuer’s securities, subsequent developments affecting the Issuer, the Issuer’s business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, conditions in the industries and jurisdictions in which the Issuer and its subsidiaries operate, tax considerations and other factors. The Reporting Persons intend to review the Reporting Persons’ investments in the Issuer from time to time and, in the course of such review, the Reporting Persons may take any of the foregoing actions with respect to their investment in the Issuer, or make other decisions or take other actions with respect to the Issuer. These decisions and actions may include communicating from time to time with the board of directors of the Issuer (the “Board”), members of management of the Issuer, other stockholders of the Issuer or other third parties with respect to the evaluation or implementation of strategic alternatives relating to the Issuer, engaging legal, financial, regulatory, technical, industry and/or other advisors to assist in any review or in making recommendations with respect to such decisions or actions, and taking steps to implement alternative courses of action relating to the Issuer, including courses of action that may be recommended by such advisors. Such courses of action may involve, without limitation, the proposal of or support for extraord

Interest in Securities of Issuer

Item 5. Interest in Securities of Issuer (a) The Reporting Persons beneficially own an aggregate of 10,048,249 shares of the Issuer’s Common Shares, representing 9.8% of the outstanding Common Shares. (b) Each of the Reporting Persons has shared voting and dispositive power with respect to the beneficially owned 10,048,249 shares. This percentage is calculated based upon 102,461,382 Common Shares outstanding as of June 30, 2024 as set forth in the Issuer's Form 6-K filed with the Securities and Exchange Commission on August 12, 2024. (c) Schedule B sets forth the transactions in the Common Shares effected by the Reporting Persons during the past 60 days. (d) None. (e) Not applicable.

Contracts, Arrangements, Understandings or Relationships

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer The information set forth in Item 4 of this Schedule 13D is incorporated herein by reference.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits 1. Agreement of filing persons relating to filing of joint statement per Rule 13d-1(k). 7

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this Statement on Schedule 13D is true, complete and correct. August 16, 2024 TETHER HOLDINGS LIMITED By: /s/ Ludovicus Jan Van der Velde Name: Ludovicus Jan Van der Velde Title: Director Tether Investments Limited By: /s/ Ludovicus Jan Van der Velde Name: Ludovicus Jan Van der Velde Title: Director /s/ Ludovicus Jan Van der Velde Ludovicus Jan Van der Velde , individually /s/ Giancarlo Devasini Giancarlo Devasini , individually 8 Schedule A Executive Officers and Directors The following sets forth the name, country of citizenship, position and principal occupation of each executive officer and member of the board of directors of Tether Holdings Limited and Tether Investments Limited. Except as indicated below, none of the persons listed below has been convicted of a crime (other than traffic violations or similar misdemeanors) or been subject to proceedings pertaining to violations of securities laws within the past 5 years. Executive Officers and Directors of Tether Holdings Limited : Name and Citizenship Position and Principal Occupation Beneficial Ownership of Italy Chief Executive Officer 0 SHRM Trustees (BVI) Limited, P.O. Box 4301, Trinity Chambers, Road Town, Tortola, British Virgin Islands, VG 1110 Giancarlo Devasini, citizen of Italy Chief Financial Officer and Director 10,048,249 (1) SHRM Trustees (BVI) Limited, P.O. Box 4301, Trinity Chambers, Road Town, Tortola, British Virgin Islands, VG 1110 Ludovicus Jan Van der Velde, citizen of the Netherlands Director 10,048,249 (1) SHRM Trustees (BVI) Limited, P.O. Box 4301, Trinity Chambers, Road Town, Tortola, British Virgin Islands, VG 1110 9 Executive Officers and Directors of Tether Investments Limited : Name and Citizenship Position and Prin

View Full Filing

View this SC 13D filing on SEC EDGAR