Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 120

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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 to an extension to the Notes and certain related
transactions on the following terms and conditions. Specifically, the Company paid 50%
of the outstanding principal balance of $0.5
million on May 14, 2025, and the maturity date of each Note was extended to May 26, 2025. The Company’s obligations under
these Notes, with a combined outstanding principal balance of $0.5
million, may be satisfied in one of the following manners as mutually determined by the lenders: (i)
the Company shall pay the remaining principal balance of the Notes, plus a premium equal to 3% of such amount, in cash, on or before
May 26, 2025; or (ii) the lenders may collectively exchange the outstanding principal balance of their Notes for the shares of
common stock of Bridgetown Spirits held by the Company. If such exchange option is selected by the lenders, the Company additionally agreed to pay 50%
of the current salary of Bridgetown Spirits’ Chief Executive Officer for a 60-day period beginning May 26, 2025.

Stockholders’
Equity 

ATM Agreement

On
April 30, 2025, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) with Ladenburg Thalmann
& Co., Inc., pursuant to which the Company may issue and sell over time and from time to time, to or through Ladenburg, up to $7.0
million of shares of the Company’s common stock. During
May 2025, the Company sold 22,295
shares at a weighted average of $1.37
per share for gross proceeds of $30,542.

ELOC
Agreement

Subsequent
to March 2025, the Company sold and issued a total of 912,644 shares of common stock for an aggregate purchase price of $1.0 million
to the Purchaser.

Series
D Preferred Stock

Subsequent
to March 2025, 66,666 shares of Series D Preferred Stock were converted into 266,666 shares of common stock.

Series
G Preferred Stock and Warrants

Subsequent
to March 31, 2025, 400,000
shares of Series G Preferred Stock were converted into 40,000
shares of common stock. However, due to price protection provisions applicable to the Series G Preferred Stock, the Company may be
required to issue up to an additional 82