Company: BLNE
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001641172-25-008111
Chunk: 10

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-01
Form: 424B5
Chunk 10
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 35% of the gross proceeds from such sales. The Company also has the right to prepay all, but not less than all, of the outstanding amounts under the notes, at its election. The notes contain certain restrictive covenants, including covenants precluding the Company and its subsidiaries from incurring indebtedness, transferring assets, changing the nature of its business, and engaging in certain other actions, subject to certain exceptions.

In March 2025, the Company and certain of the holders agreed to an extension of the maturity date to April 14, 2025 in exchange for an increase to the principal of the notes by 10%, and the remaining two lenders were each paid their principal balance plus 2.5% interest of $0.3 million.

On April 14, 2025, the Company and the remaining note holders entered into an agreement for a second extension of the maturity dates of the notes held by such holders to May 14, 2025. The terms of the recent extension are as follows: (i) if the notes are paid off on or before April 29, 2025, then there will be no additional principal payment required; and (ii) if the principal of the applicable notes are not paid off on or before April 29, 2025 but are paid on or before May 13, 2025, then an additional payment in an amount equal to 5% of the outstanding principal of the applicable notes will be due.

Resolution ofNasdaq Bid Price Deficiency

On February 26, 2025, the Company received a letter from Nasdaq notifying the Company that the Company is eligible for an additional 180 calendar day period, or until August 25, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2). As of the date of the letter, the Company remained noncompliant with the Rule by failing to maintain a minimum bid price for its common stock of at least $1.00 per share for 30 consecutive business days. Prior to this letter, the Company had received the original notice of noncompliance with the Rule from Nasdaq wherein the Company had been given until February 25, 2025 to regain compliance.

The Company effected the 1:10 reverse stock split on March 12, 2025. On April 15, 2025, the Company received a letter from Nasdaq notifying the Company of its compliance with the Rule by maintaining a minimum bid price for its