Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 117

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 117
---
-1 cannot convert or vote prior to shareholder approval. Effective immediately upon approval of Proposal 1, the Series F-1 will be eligible to vote, including on the other Proposals being brought before the Special Meeting, subject to any applicable beneficial ownership limitations.

Series F and F-1 Special Adjustment Feature

If shareholder approval of the voting and conversion of the Series F and increase in authorized capital occurs, the Series F and Series F-1 were, as of October 7, 2024, equal to 82.5% of common stock outstanding on a fully diluted basis (the “Stated Percentage”). In addition, with respect to each of the Series F and Series F-1, if during the two years ending October 7, 2026 the sum of (i) the shares of common stock outstanding on October 7, 2024, plus (ii) shares issuable on conversion of Series B, Series C, Series D and Series E, plus (iii) shares issuable on conversion of securities issued in the initial financing of the post-Merger company of at least $1.5 million and less than $3.25 million, (iv) plus shares issued to settle pre-existing liabilities (collectively, the “Measuring Shares”) exceeds 14,848,485 (the “Maximum Amount”), then the Series F and Series F-1 conversion rates will be adjusted to maintain the Stated Percentage of the shares of common stock issuable upon conversion of the Series F and Series F-1 relative to the Measuring Shares, subject to a cap of 70 million shares of common stock. Likewise, if the number of Measuring Shares on October 7, 2025, is less than 14,848,485, then the Series F and Series F-1 conversion rates will be adjusted to retain the Stated Percentage of shares issuable on conversion of the Series F and Series F-1 relative to Measuring Shares of 82.5%. All adjustments are subject to a floor price equal to 20% of the Minimum Price as defined in the Nasdaq rules as long as the common stock trades on The Nasdaq Capital Market.

| 102 |

In connection with the adjustment provisions described above for a period of one year from the issuance date, 10% of the shares of common stock underlying the Series F and Series F-1 are subject to lock-up restrictions, and potential reduction in the underlying shares of common stock to the extent the Measuring Shares are less than the Maximum