Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 157

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 157
---
million. In addition, Eastside issued a common stock purchase warrant to TQLA covering the loan amount to purchase up to 14,583
shares of common stock at an exercise price of $240.00
per share. The note payable was fully repaid in October 2022. The common stock purchase warrant expires in March 2027. The warrants
were amended pursuant to the Debt Satisfaction Agreement (see discussion above) to prevent any exercise that would result in
the warrant-holder and affiliates acquiring cumulative voting power in excess of 9.99%.
This Beneficial Ownership Limitation may be increased to 19.99%
upon 61 days advance notice to Eastside.

From April 19, 2021 through May 12, 2021, Eastside
issued in a private placement Existing Warrants to purchase up to 4,500 shares of common stock at an exercise price of $520.00 per Warrant
Share. On July 30, 2021, Eastside entered into Inducement Letters with the holders of the Existing Warrants whereby such holders agreed
to exercise for cash their Existing Warrants to purchase the 4,500 Warrant Shares in exchange for Eastside’s agreement to issue
new warrants (the “New Warrants”) to purchase up to 4,500 shares of common stock (the “New Warrant Shares”). The
New Warrants have substantially the same terms as the Existing Warrants, except that the New Warrants have an exercise price of $600.00
per share and are exercisable until August 19, 2026. On September 29, 2023, pursuant to the Debt Satisfaction Agreement (see above),
the exercise price of the Existing Warrants was reduced to $330.80 per share and the term during which the Existing Warrants may be exercised
was extended to June 23, 2028.

    F-34

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

On January 15, 2020, Eastside and its subsidiaries
entered into a loan agreement (the “Loan Agreement”) between Eastside and Live Oak Banking Company (“Live Oak”),
a North Carolina banking corporation (the “Lender”) to refinance existing debt of Eastside and to provide funding for general
working capital purposes In connection with the Loan Agreement, Eastside issued to the Lender a warrant to purchase up to 500 shares of