Company: BLNE
Filing Date: 2025-04-14
Form Type: 8-K
Source: 0001641172-25-003954
Chunk: 0

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-14
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry Into a Material Definitive Agreement

As previously disclosed, on November 14, 2024, Beeline
Holdings, Inc. (the “ Company”) sold $1,938,000 of principal amount of senior secured notes (the “ Notes”) and pre-funded
warrants to purchase 363,602 shares of common stock for gross proceeds of $1,615,000. In connection with the closing, on November 14,
2024, two Note holders (the “ Holders”) each executed a side letter agreement with the Company, each providing that a number
of shares of Series D Convertible Preferred Stock (the “ Series D”) equal to $333,333.33 of the stated value of the Series
D shall be eligible for conversion into shares of the Company’s common stock beginning on April 7, 2025, at a conversion price equal
to the lower of (i) $5.00 per share; or (ii) the five-day volume weighted average price ending on April 7, 2025, subject to a floor price
of $2.50 per share. By virtue of this agreement, each holder’s 33,333 shares of Series D is now convertible at an adjusted conversion
price of $2.50 per share.

In March 2025, the Company and
the two Holders extended the maturity date of their Notes from March 14, 2025 to April 14, 2025 in exchange for an increase to the principal
of the Notes by 10%.

On April 14, 2025, the Company and each
of the two Holders entered into an agreement for a second extension of the maturity dates of the Notes held by the Holders, having total
combined principal of $880,000 (giving effect to the 10% increase in principal from the prior extension), to May 14, 2025, which extension
was subject to the condition that as of 4:00 p. m., Eastern Time on April 14, 2025 (the “ Deadline”) the Company issue to
each of the Holders the 133,333 shares of common stock underlying the Holder’s Series D, comprised of the original 18,518
shares plus the additional 114,815 shares by virtue of the side letter (the “ Shares”) without any restrictive legends. The new maturity dates are May 14, 2025.

The terms of the recent extension are