Company: BLNE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001641172-25-022594
Chunk: 39

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 39
---
, particularly based on the conversion, exercise and adjustment provisions set forth therein, and we encourage stockholders to carefully read such documents in their entirety. A copy of the form of Warrant is attached as Annex B, and copies of the Certificate of Designations of the Series G and subsequent amendments thereto are attached as Annex C.

| 34 |

Background of Series G and Warrants

Issuances of Series G and Warrants

From November 26, 2024 to March 25, 2025, the Company issued and sold a total of 13,362,744 shares of Series G and 613,706 of accompanying five-year Warrants to purchase a total of 1,949,980 shares of Common Stock for total gross proceeds of $5,559,752. Included in these issuances were 7,641,488 shares of Series G and 382,077 accompanying Warrants which were issued to Nicholas R. Liuzza, Jr., the Company’s Chief Executive Officer, director and principal stockholder, in exchange for a total of $3,897,159.

The Company also issued 573,925 shares of Series G to C/M Capital Master Fund LP, the purchaser under its equity line of credit facility as commitment shares, and 250,000 shares of Series G to Joseph Gunnar & Co., LLC, its former investment banker, as consideration for the waiver and release of certain contractual rights, and 264,796 shares of Series G to a law firm as payment for past services.

Series G Terms

Each share of Series G has a stated value of $0.51. The Series G were initially convertible into Common Stock at a conversion price of $5.10 per share, subject to adjustment as provided therein including 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. Following the Prior Meeting, the Company sold Common Stock pursuant to its equity line of credit facility under that certain Amended and Restated Common Stock Purchase Agreement dated March 7, 2025 at prices per share that were lower than the original conversion price, resulting in a reduction to the conversion price of the Series G to $1.67. The result of this adjustment is that the shares of Common Stock issuable upon conversions of Series G increased from 938,210 shares to 2,865,197 shares. Following such adjustment, the Company amended the Series G to exclude certain transactions from causing future adjustments, including the Company’s ongoing