Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 176

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 176
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18. Subsequent Events

Merger Agreement

On September 4, 2024, the Company entered into the Merger Agreement with the Merger Sub and Beeline Financial Holdings, Inc. (“Beeline”). Beeline is a mortgage technology company that operates an end-to-end, all-digital, AI-enhanced platform for homeowners and property investors. On October 7, 2024, the parties executed Amendment No. 1 to the Merger Agreement.

| F-48 |

Eastside Distilling, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

September 30, 2024

(Unaudited)

On October 7, 2024, immediately after the closing under the Debt Agreement, a closing was held pursuant to the Merger Agreement (the “Merger Closing”). Beeline merged into Merger Sub and became a wholly-owned subsidiary of the Company, with the name of the surviving subsidiary being changed to Beeline Financial Holdings, Inc. In the Merger, the shareholders of Beeline gained the right to receive a total of 69,482,229shares of Series F Preferred Stock and a total of 517,771shares of Series F-1 Preferred Stock. In addition, each option to purchase shares of Beeline common stock outstanding at the time of the Merger was converted into an option to purchase shares of the Company’s common stock measured by the same ratio.

The sale of the Company’s common stock and Series F Preferred Stock to the shareholders of Beeline was carried out in a transaction exempt from registration pursuant to SEC Regulation 506(b).

Debt Agreement

On October 7, 2024, a closing was held pursuant to the terms of the Debt Agreement. At that closing, the following transactions were completed:

| ● | Aegis,                                                                                                                            
 Bigger, District 2 and LDI transferred to the Company a total of 31,234                                                           
 shares of the Company’s Series C Preferred                                                                                        
 Stock and 119,873                                                                                                                 
 shares of the Company’s common stock.                                                                                             
 The Investors also released the Company from liability for $4.1                                                                   
 million of senior secured debt and $2.5                                                                                           
 million of unsecured debt. In consideration                                                                                       
 of their surrender of stock and release of debt, the Company caused Craft C+P to be merged into a limited liability company owned 
 by the Investors.                                                                                                                 |
| ● | The                                                                                                                               
 Company issued a total of 255,474                                                                                                 
 shares