Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1150

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1150
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 the initial closing date of the offering of such Series G Preferred Stock. 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 holder may convert Series G Preferred Stock will be 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%.The holder of Series G Preferred Stock has no conversion or voting rights prior to stockholder approval of such actions. In
the event of a liquidation of the Company, the holders of Series G Preferred Stock will share in the distribution of the Company’s net
assets on an as-converted basis, subordinate only to the Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock
and Series E Preferred Stock. The conversion of Series G Preferred Stock was approved at a special meeting of stockholders on March 7,
2025, see Note 25 – Subsequent Events.

During 2024, the Company sold 4,484,314 shares of Series G Preferred Stock and 2,242,157 five-year Warrants to purchase
a total of 448,431 shares of common stock for total gross proceeds of $2.3 million.

On December 31, 2024, the Company issued a consultant
250,000 shares of Series G Preferred Stock as consideration for the waiver and release of certain contractual rights under which the Company
also paid $0.1 million.

On December 31, 2024 the Company
entered into a Common Stock Purchase Agreement and related Registration Rights Agreement (collectively, the “ELOC
Agreement”) and the Company issued the Purchaser 573,925
shares of Series G Preferred Stock as a commission fee and recorded $0.6
million of deferred offering costs included in other assets on the consolidated balance sheets as of December 31, 2024. See ELOC Agreement below.

As of December 31, 2024, the Company had stock to
be issued of 245,098 shares of Series G Preferred Stock as payment for past legal services and recorded $0.1 million of stock to be issued
on the consolidated balance sheets as of December 31, 2024.

Bridgetown Spirits Corp. and Non-Controlling Interests

Subsequent to the execution of the Debt Exchange Agreement,
Bridgetown issued