Company: BLNE
Filing Date: 2025-02-05
Form Type: DEF 14A
Source: 0001493152-25-005006
Chunk: 54

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-05
Form: DEF 14A
Chunk 54
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 G or common stock (subject to shareholder approval) in lieu of cash payments.

Each of the foregoing issuances of securities were exempt from registration pursuant to Section 4(a)(2) of the Securities Act and Rule 506(b) thereunder.

By approving the Merger Share Issuance Proposal, our shareholders are approving the full conversion and exercise, and voting rights and other related terms and rights, in excess of the Exchange Cap, regardless of whether our common stock remains listed on Nasdaq or other national securities exchange in the future, which requires such approval notwithstanding any limitations on conversion or exercise set forth in such Securities.

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Interests of Executive Officers and Directors in the Proposals

Certain directors and officers of the Company have interests in the Merger Share Issuance Proposal, including because they hold certain of the Securities being voted on. These interests are outlined as follows:

Nicholas Liuzza

Mr. Nicholas Liuzza, Beeline’s Chief Executive Officer, beneficially owns 18,189,172 shares of Series F, 135,543 shares of Series F-1, 1,960,784 shares of Series G and 980,392 G Warrants, all of which become convertible or exercisable, as applicable, upon shareholder approval of Proposal 1. In addition, Mr. Liuzza is expected to be appointed as Chief Executive Officer of Eastside following shareholder approval of the Proposal 1 in accordance with Nasdaq rules.

In addition, on December 31, 2024, Mr. Liuzza, loaned $700,000 to Beeline Loans Inc. (“Beeline Loans”), an indirect subsidiary of the Company, and in exchange Beeline Loans issued Mr. Liuzza a demand promissory note in the aggregate principal amount of $700,000, which accrues interest at the rate of 8% per annum and is payable within 15 days of demand notice made by Mr. Liuzza. The funds were lent to permit Beeline Loans to increase its ability to make real estate loans and are being held in a restricted account and are not being used for operations.

Joseph Freedman

Joseph Freedman was appointed by Beeline as a director of Eastside in connection with the Merger. Mr. Freedman beneficially owns 534,201 shares of Series F, 3,981 shares of Series F-1, 238,418 shares of Series G and 119,209 G Warrants, all of which become convertible or exercisable,