Company: BLNE
Filing Date: 2025-02-05
Form Type: DEF 14A
Source: 0001493152-25-005006
Chunk: 52

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-05
Form: DEF 14A
Chunk 52
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 affiliate invested $448,333.33 to exchange that amount of stated value of shares of Series F for a $448,333.33 120-day promissory note to another affiliate, which note was issued immediately prior to the closing of the offering and has substantially identical terms to the Notes issued therein, except it is subordinated with respect to its security interest, (ii) permit two investors to convert Series D Preferred Stock beginning on April 7, 2025, and (iii) permit two investors to receive a number of shares of Series F equal to 50% of their investment amount, or $125,000 each, using the stated value of the Series F, which is $0.50 per share, to determine the number of shares of Series F.

The Notes are not convertible, and only the accompanying Note Warrants are included in “Securities” being voted on in the Merger Share Issuance Proposal as it relates to the foregoing offering.

November 2024 – January 2025 PIPE – Series G and Warrants

From November 26 to January 14, 2025, the Company sold 5,850,183 shares of Series G and five-year Warrants (the “G Warrants”) to purchase a total of 2,925,091 shares of common stock for total gross proceeds of $2,983,593.

The foregoing issuances are part of an ongoing offering of Series G and accompanying G Warrants, for which we are seeking shareholder approval of those amounts at this Special Meeting. Because the offering is ongoing, we are asking shareholders to approve the issuance of shares of common stock underlying a total of up to 11,000,000 shares of Series G and 5,500,000 accompanying Series G Warrants, which includes the total of 6,938,615 Series G and 2,925,091 G Warrants presently outstanding.

Each share of Series G has a stated value of $0.51. The holder of Series G has no conversion or voting rights prior to shareholder approval of such actions. In the event of a liquidation of Eastside, the holders of Series G will share in the distribution of Eastside’s net assets on an as-converted basis, subordinate only to the Series B, Series D and Series E.

If the shareholders of Eastside approve the conversion of the Series G, each share of Series G will be convertible into common stock by a conversion ratio equal to the stated value of the Series G share divided by the Series G