Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 53

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 53
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 numbers we use in this Proxy Statement assume we will not engage in any lower priced offering since we do not intend to do so. The Series G 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 holder may convert Series G will be limited by a beneficial ownership limitation, which restricts the number of shares of Eastside common stock that the holder and its affiliates may beneficially own after the conversion to 4.99% (or a lesser amount with one investor electing 1%).

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The G Warrants are exercisable at an exercise price of $0.65 per share beginning on the effective date of (i) an increase in authorized common stock of the Company as necessary to permit full issuance of the shares of common stock underlying the G Warrants and the Series G sold pursuant to the Securities Purchase Agreement together with other common stock equivalents outstanding as of the date of the Securities Purchase Agreement and (ii) the approval of the issuance of all of the securities as may be required by the rules of Nasdaq (Proposal 1).

In connection with the Equity Line of Credit which is the subject of Proposal 2, we issued the Purchaser 573,925 shares of Series G. These shares were issued as a commitment fee under the ELOC Agreement.

Gunnar Termination Agreement – Series G

On December 31, 2024, the Company issued to Joseph Gunnar & Co., LLC 250,000 shares of Series G as consideration for the waiver and release of certain contractual rights under which the Company also paid $100,000 and provided registration rights with respect to the shares of common stock issuable upon conversion of the Series G. We agreed to register the underlying common stock issuable to Joseph Gunnar & Co. and intend to file a registration statement covering such shares in the near future.

Consulting Services – Series G

InJanuary 2025, we issued a consultant 264,796 shares of Series G as payment for past services, and may issue the consultant $10,000 per month of Series 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