Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 304

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 304
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 Stock and Series E Preferred Stock, subordinate only to the senior position
of the Series B Preferred Stock. The number of shares of common stock into which a holder may convert Series D Preferred Stock is limited
by a beneficial ownership limitation of 9.99%. The Series D Preferred Stock conversion price and the floor price will be subject to equitable
adjustment in the event of stock splits, reverse splits and similar events. The Series D Preferred Stock is non-voting.

Pursuant to the terms of
the Debt Exchange Agreement on October 7, 2024, Eastside issued a total of 255,474 shares of Series D Preferred Stock to Bigger and District
2, and they released the Company from liability for $2.6 million of unsecured debt. See Note 5 – Debt Exchange Agreement.

In
conjunction with the Senior Secured Notes entered into on November 14, 2024, the Company entered in a side letters with Bigger and
District 2 to each convert $0.3
million of Series D Preferred Stock beginning on April 7, 2025 at a conversion price equal to the lower of $5.00
per share or the five-day VWAP price ending on April 7, 2025, but not less than $2.50
per share.

    F-31

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

Issuance of Series E Preferred Stock

Each
share of Series E Preferred Stock has a stated value of $10.00
and is convertible into shares of the Company’s common stock pursuant to the terms and conditions set forth in a Certificate
of Designation establishing Series E Preferred Stock with an initial conversion price of $20.00, subject to an automatic adjustment
on October 31, 2025 equal to the average of the VWAPs for the five trading days immediately preceding the Measurement Date (390 days
after the closing under the Debt Exchange Agreement), subject to a “Floor Price” of $2.50
per share. The Series E Preferred Stock conversion price and the floor price will be subject to equitable adjustment in the event of
stock splits, reverse splits and similar events. The number of shares of common stock into which a holder may convert Series E
Preferred Stock is limited by a beneficial ownership limitation, which restricts the number of shares of common stock that the
holder and its affiliates may beneficially own after the conversion