Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 38

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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31, 2025

(Unaudited)

During the three months ended March 31,
2025, 188,808 shares of Series D Preferred Stock were converted into 104,893 shares of common stock.

Issuance
of Series E Preferred Stock

Each
share of Series E Preferred Stock has a stated value of $10.00 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 E Preferred Stock with an initial conversion
price of $20.00, subject to an automatic adjustment on October 31, 2025 equal to the average of the VWAPs for the five trading days immediately
preceding the Measurement Date (390 days after the closing under the Debt Exchange Agreement), subject to a “Floor Price”
of $2.50 per share. The Series E Preferred Stock conversion price and the floor price will be subject to equitable adjustment in the
event of stock splits, reverse splits and similar events. The number of shares of common stock into which a holder may convert Series
E Preferred Stock is limited by a beneficial ownership limitation, which restricts the number of shares of common stock that the holder
and its affiliates may beneficially own after the conversion to 9.99%. The Series E Preferred Stock is non-voting.

Pursuant
to the terms of the Debt Exchange Agreement on October 7, 2024, the Company issued a total of 200,000 shares of Series E Preferred Stock
to certain lenders, and they released the Company from liability for $2.0 million of unsecured debt.

Issuance
of Series F and F-1 Preferred Stock

Each
share of Series F 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