Company: BLNE
Filing Date: 2025-03-10
Form Type: 424B7
Source: 0001493152-25-009637
Chunk: 4

Company: Beeline Holdings, Inc.
Filing Date: 2025-03-10
Form: 424B7
Chunk 4
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 Company received a letter from The Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that Nasdaq has approved its application for listing of the Company’s common stock on The Nasdaq Capital Market, which was submitted by the Company in connection with its Merger with Beeline. Although the Company’s common stock is currently listed on The Nasdaq Capital Market, the Merger required the Company to file an initial listing application due to the change of control, which occurred at the special meeting of shareholders described below.

Shareholder Approvals at Special Meeting

On March 7, 2025, the Company held its special meeting of shareholders at which the shareholders voted to approve (i) the conversions, exercises and voting rights of securities issued in and following the Merger, (ii) sales under the ELOC in an amount of up to $20 million; (iii) a change of the Company’s name to “Beeline Holdings, Inc.” and (iv) ratification of Salberg & Company, P.A. as the Company’s auditor.

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Conversions of Preferred Stock

On March 7, 2025, following shareholder approval of the Merger and conversion of shares of preferred stock issued in and following the Merger at the special meeting, holders of the Company’s Series F Convertible Preferred Stock, Series F-1 Convertible Preferred Stock, and Series G Convertible Preferred Stock converted such preferred shares (totaling 56,090,649 shares of preferred stock) into a total of 56,090,649 shares of common stock. As a result of these conversions, there are now 60,780,152 shares of common stock issued and outstanding, and Nicholas Liuzza, Jr. the Chief Executive Officer of the Company, beneficially owns 18,373,715 of the outstanding shares of common stock representing 30.2% of the outstanding voting power. We expect during the week of March 10, 2025 he will convert additional shares of Series G into 5,878,782 shares of common stock, resulting in total shares of common stock beneficially owned of 24,250,497 representing 36.4% of the shares outstanding after giving effect to such transaction. He also holds warrants to purchase 2,938,391 shares of common stock.

Director and Officer Resignations and Appointments

On March 7, 2025, following the shareholder meeting described above, Geoffrey Gwin, Robert Grammen and Stephanie Kilkenny resigned as