Company: BLNE
Filing Date: 2025-02-05
Form Type: DEF 14A
Source: 0001493152-25-005006
Chunk: 46

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-05
Form: DEF 14A
Chunk 46
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ance as described herein.

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Merger Agreement

On September 4, 2024, Eastside entered into the Merger Agreement with Eastside, East Acquisition Sub, Inc. (the “Merger Sub”) and Beeline. On October 7, 2024, the parties executed Amendment No. 1 to the Merger Agreement and the closing occurred pursuant to the Merger Agreement, as amended, under which Beeline merged into Merger Sub and with the name of the surviving corporation being changed to Beeline Holdings, Inc. In the Merger, the shareholders of Beeline received a total of 69,482,229 shares of Series F and a total of 517,775 shares of Series F-1. We refer to such Series F and F-1 as the “Merger Shares.” The ratio in the Merger was 4.89252978530683 shares of Eastside common stock for each share of Beeline common stock, in each case determined on an as-converted basis.

Merger Shares

At the closing of the Merger, the Company issued the Beeline shareholders the Merger Shares. If we obtain shareholder approval of Proposal 1, all Merger Shares will become convertible into and vote with the Company’s common stock at a ratio of one-of-one, subject to certain beneficial ownership limitations where applicable.

No Investment Banker or Financial Advisor

Neither Eastside nor Beeline used an investment bank or financial advisory firm to provide services in connection with the Merger, including investment advice, financial advice, valuations or fairness opinions in connection with the Merger.

Other Transactions

Simultaneously with the Merger, the Company engaged in the following transactions and actions:

First Amended and Restated Debt Exchange Agreement

Based upon a term sheet dated May 29, 2024, on September 4, 2024, Eastside and its then subsidiary, Craft Canning & Bottling, LLC (“Craft”) entered into a Debt Exchange Agreement with The B.A.D. Company, LLC (the “SPV”), Aegis Security Insurance Company (“Aegis”), Bigger, District 2, LDI Investments, LLC (“LDI”), William Esping (“Esping”), WPE Kids Partners (“WPE”) and Robert Grammen (“Grammen”), a director of the Company. Subsequent to the execution of the Debt Exchange Agreement, the assets of the SPV were distributed to its members, i.e. Aegis, Bigger, District 2 and L