Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 32

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 32
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5.10 per share. The conversion price is subject to adjustment as provided therein including that in the event of an issuance
of common stock or common stock equivalents at a price per share that is less than the conversion price, the conversion price then in
effect will be reduced to such lower price per share, subject to certain exceptions and to a floor price of 20% of the Nasdaq Minimum
Price as of the initial closing date of the offering of such Series G Preferred Stock (see below for triggering event). The result of
such provision is that more shares of common stock will be issuable upon conversions of the Series G Preferred Stock if there is a subsequent
issuance at a lower price per share. The Series G Preferred Stock conversion price is subject to equitable adjustment in the event of
a stock split, reverse split, and similar events. The number of shares of Common Stock into which a holder may convert Series G Preferred
Stock will be limited by a beneficial ownership limitation, which restricts the number of shares of the Company’s common stock
that the holder and its affiliates may beneficially own after the conversion to 4.99%.The holder of Series G Preferred Stock has no conversion
or voting rights prior to stockholder approval of such actions. In the event of a liquidation of the Company, the holders of Series G
Preferred Stock will share in the distribution of the Company’s net assets on an as-converted basis, subordinate only to the Series
B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, and Series E Preferred Stock. The conversion of Series G Preferred
Stock was approved at a special meeting of stockholders on March 7, 2025.

On
April 25, 2025, the Company filed with the Nevada Secretary of State a Certificate of Amendment to the Series G Preferred Stock Certificate
of Designations. The Certificate of Amendment provides that (i) the beneficial ownership limitation on conversion set forth in the Certificate
of Designation will not apply to a holder who is otherwise subject to Section 16(a) of the Securities Exchange Act of 1934 by virtue
of being an executive officer or director of Company, and (ii) the anti-dilution price protection adjustment rights with respect to subsequent
offerings or issuances of securities will not apply to an equity line of credit or at-the-market offering facility or as otherwise determined
by the holder(s) of a majority of the Series G Preferred Stock.

During
the six months ended June 30,