Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 109

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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 and F-1 Preferred Stock has a stated value of $0.50
and is convertible into shares of the Company’s common
stock pursuant to the terms and conditions set forth in a Certificate of Designation establishing Series F and F-1 Preferred Stock with
an initial conversion price of $5.00
per share. The number of shares of Common Stock into which
a holder may convert Series F and F-1 Preferred Stock is limited by a beneficial ownership limitation, which restricts the number of
shares of the Company’s common stock that the holder and its affiliates may beneficially own after the conversion to 4.99%. That
beneficial ownership limitation does not, however, apply to holders who are subject to Section 16 of the Exchange Act by virtue of being
an executive officer or director of the Company which presently only applies to the Company’s Chief Executive Officer.

The
conversion of Series F and F-1 Preferred Stock was approved at a special meeting of stockholders on March 7, 2025. During the three months
ended March 31, 2025, 57,020,394
and 421,186
shares of Series F and F-1 Preferred Stock, respectively, were
converted into 5,744,158
shares of common stock.

Issuance
of Series G Preferred Stock

Each
share of Series G Preferred Stock has a stated value of $0.51 and is convertible into shares of the Company’s common stock pursuant
to the terms and conditions set forth in a Certificate of Designation establishing Series G Preferred Stock with an initial conversion
price of $5.10 per share. The conversion price is subject to adjustment as provided therein including
that in the event of an issuance of common stock or common stock equivalents at a price per share that is less than the conversion price,
the conversion price then in effect will be reduced to such lower price per share, subject to certain exceptions and to a floor price
of 20% of the Nasdaq Minimum Price as of the initial closing date of the offering of such Series G Preferred Stock (see below for triggering
event). The result of such provision is that more shares of common stock will be issuable upon conversions of the Series G Preferred Stock
if there is a subsequent issuance at a lower price per share. The Series G Preferred Stock conversion price is subject to equitable adjustment
in the event of a stock split, reverse split, and similar events. The number
of shares of Common Stock into which a