Company: BLNE
Filing Date: 2025-02-05
Form Type: DEF 14A
Source: 0001493152-25-005006
Chunk: 12

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-05
Form: DEF 14A
Chunk 12
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 raising transactions, and the Equity Line of Credit. Other than the foregoing, shareholders are not being asked to vote on the Merger, which closed on October 7, 2024.However, descriptions of the material terms of the Merger, the subsequent transactions and the Equity Line of Credit are included in this Proxy Statement to assist shareholders in making an informed voting decision with respect to Proposals 1 and 2.

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Business Overview

The Company currently operates through two subsidiaries. Bridgetown Spirits Corp. (“Spirits”) manufactures, blends, bottles, markets and sells a wide variety of alcoholic beverages, including whiskey, vodka, rum and tequila, under recognized brands in 30 U.S. states. We sell our products on a wholesale basis to distributors through open states, and brokers in control states. We currently own 53% of Spirits.

In the Merger on October 7, 2024 Beeline became our second subsidiary. Beeline is a fintech mortgage lender and title provider aimed at transforming the home loan process into a shorter, easier path than conventional mortgage lending for millions of Americans seeking a digital experience. Beeline has built a proprietary mortgage platform leveraging advanced technical tools with sophisticated language learning models and combining an appropriate amount of human interaction to create a better outcome for mortgage borrowers. Beeline was founded in 2019 with principal offices located in Providence, Rhode Island. An Australian subsidiary has offices in Burleigh Heads, Australia. Beeline also has executive office suites in three locations in the United States.

For more information, see the following sections of this Proxy Statement. The page numbers refer to where each section begins in this Proxy Statement. Business page 65, Management’s Discussion and Analysis of Financial Condition page 84, Principal Shareholders page 51, Related Party Transactions page 96, Description of Securities page 99, Unaudited Pro Forma Financial Statements page F-1, and Financial Statements page F-86.

The Merger

On October 7, 2024, Eastside closed the Merger contemplated by the Merger Agreement with Merger Sub and Beeline, a fintech mortgage lender and title provider. Pursuant to the closing Beeline merged into Merger Sub and became a wholly-owned subsidiary of Eastside, with the name of the surviving corporation being changed to Beeline Financial Holdings, Inc. (the “Merger”). Also on October 7, 2024, Eastside also completed a debt exchange transaction with certain of its existing lenders and sold the