Company: BLNE
Filing Date: 2025-07-29
Form Type: 8-K
Source: 0001641172-25-021304
Chunk: 0

Company: Beeline Holdings, Inc.
Filing Date: 2025-07-29
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement

On
July 25, 2025, Beeline Holdings, Inc. (the “ Company”) entered into a Debt Satisfaction Agreement (the “ DSA”)
with Bridgetown Spirits Corp. (“ Spirits”), the Company’s 53%-owned subsidiary and three individuals (the “ Buyers”)
including Geoffrey Gwin, the President of Spirits, pursuant to which the Company transferred to the Buyers all 530,000 shares of Spirits
common stock held by the Company, representing 53% of the outstanding Spirits common stock, in exchange for the satisfaction of outstanding
amounts payable by the Company to the Buyer totaling $367,404 and releases from Spirits and the Buyers relating thereto. The Company
also released Spirits from certain obligations and liabilities in connection with the transaction. As a result of the foregoing, Spirits
is no longer a subsidiary of the Company.

In
connection with the DSA, the Company loaned Spirits $75,000, in exchange for which Spirits executed and delivered to the Company a Senior
Secured Original Issue Discount Promissory Note and Security Agreement (the “ Note”) in the principal amount of $100,000,
reflecting an original issue discount of $25,000. The Note is payable as follows: (i) $50,000 is payable on April 24, 2026, and the remaining
$50,000 is payable on July 25, 2026. The obligations of Spirits evidenced by the Note are secured by the assets of Spirits pursuant to
the Note.

Item
3.02 Unregistered Sale of Equity Securities