Company: BLNE
Filing Date: 2025-02-05
Form Type: DEF 14A
Source: 0001493152-25-005006
Chunk: 360

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-05
Form: DEF 14A
Chunk 360
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ation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution ( provided, however, to the extent that any Holder’s right to participate in any such Distribution would result in such Holder exceeding the Beneficial Ownership Limitation, then such Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of such Holder until such times, not in excess of 12 months, as its right thereto would not result in such Holder exceeding the Beneficial Ownership Limitation).

(e) Adjustment for Stated Percentage.

| (i) | The aggregate combined                                                                                                                    
 percentage of the shares of Common Stock underlying the Preferred Shares, together with the shares of Series F-1 Convertible Preferred    
 Stock of the Company (the “Series F-1,” and together with the Preferred Shares, the “Holders’ Shares”)                                    
 which were issued or are issuable pursuant to the Merger Agreement, represent 82.5% of the issued and outstanding Common Stock on a fully 
 diluted basis, after giving effect to full conversions of the Holders’ Shares without giving effect to any limitations on conversions     
 applicable to the Holders’ Shares (such percentage, the “Stated Percentage”). From (i) the shares of Common                               
 Stock issued and outstanding as of the Initial Issuance Date, (ii) shares of Common Stock issuable upon conversion of Series B, Series    
 C, Series D, and Series E Convertible Preferred Stock, (iii) shares of Common Stock issuable upon conversion of securities issued in      
 connection with an initial financing of at least $1,500,000 and not to exceed $3,250,000, and (iv) securities issuable to settle alleged  
 liabilities of the Company existing as of the Initial Issuance Date whether known or unknown to the Company (such shares of Common Stock  
 issued or issuable under clauses (i), (ii), (ii) and (iv) are defined as the “Measuring Shares”), there can be no                         
 more than 14,848,485 shares of Common Stock which may be issued or issuable without adjustment under this Section 5(e) (the “Maximum      
 Amount”). For a period