Company: BLNE
Filing Date: 2025-08-18
Form Type: DEF 14A
Source: 0001641172-25-024627
Chunk: 23

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-18
Form: DEF 14A
Chunk 23
---
 Company used for working capital and general corporate purposes. In exchange, the Company issued Mr. Liuzza a promissory note which bears interest at a rate of 8% per annum and is payable on demand.

On May 28, 2025, the Company issued Mr. Liuzza a subordinated demand promissory note of $372,241. The subordinated promissory note included $250,000 lent to the Company by an unaffiliated third party which sum Mr. Liuzza personally paid on behalf of the Company. The subordinated promissory note bears interest at a rate of 8% per annum. The balance of the note was $291,241 as of August 6, 2025.

From December 2024 through March 2025, Mr. Liuzza purchased a total of 7,641,488 shares of Series G (convertible into 764,149 shares of Common Stock) and accompanying Warrants to purchase 382,077 shares of Common Stock for a total purchase price of $3,897,159. The Series G are convertible into 2,333,629 shares of Common Stock at an exercise price of $1.67 per share and the accompanying Warrants allow for the purchase of a total of 3,762,874 shares of Common Stock at an exercise price of $0.66 per share. The number of underlying shares of Common Stock and conversion and exercise prices of these securities were adjusted as a result of price protection adjustment provisions set forth therein, and may be subject to further adjustments based on lower priced sales of Common Stock or Common Stock equivalents by the Company or if the Company obtains waivers to such adjustment provisions from the holders of these securities. Conversions of Series G and exercise of Warrants are subject to stockholder approval as and to the extent required by the rules of The Nasdaq Capital Market. The purchase prices were on the same terms as paid by other unaffiliated investors.

During June 2025, the Company partnered with an entity which is co-owned by the Company’s Chief Executive Officer, Nicholas Liuzza, and provided such related party entity with services in connection with certain residential real estate transactions funded through the sale of a cryptocurrency token which is backed by real property. In these transactions, the related party entity purchases equity from homeowners seeking liquidity, funding such purchases from the sale of the cryptocurrency token. The Company provides the related party entity with certain services in connection with these transactions, specifically through providing access to its platform,