Company: BLNE
Filing Date: 2025-01-07
Form Type: 8-K
Source: 0001493152-25-001218
Chunk: 0

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-07
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item
1.01 Entry Into a Material Definitive Agreement

Equity
Line of Credit Agreements

On
December 31, 2024 Eastside Distilling, Inc. (the “ Company”) entered into a Common Stock Purchase Agreement and related Registration
Rights Agreement (collectively, the “ ELOC Agreement”) with an institutional investor (the “ Purchaser”) pursuant
to which the Company agreed to sell, and the Purchaser agreed to purchase, up to $35 million of the Company’s common stock, subject
to a sale limit of 19.99% of the outstanding shares of the Company’s common stock prior to shareholder approval in accordance with
the rules of The Nasdaq Stock Market, LLC (“ Nasdaq”). The transactions contemplated by the ELOC Agreement are subject to
the Company registering the Purchaser’s resale of the shares on a registration statement to be filed with the Securities and Exchange
Commission. In connection with entering into the ELOC Agreement, the Company agreed to issue the Purchaser shares of the Company’s
Series G Convertible Preferred Stock or another series of convertible preferred stock convertible into shares of common stock having
a value of $525,000. The Company and the Purchaser also entered into a side letter agreement pursuant to which the parties agreed to
certain future changes to the ELOC Agreement as may be requested based on the Company and its counsel’s review of the ELOC Agreement
and as are reasonably acceptable to the Purchaser. The ability of the Purchaser to convert the underlying common stock or comply with
the terms of the ELOC Agreement is subject to receiving shareholder approval as required by the rules of Nasdaq.

The
foregoing description of the terms of the ELOC Agreement and side letter agreement and the transactions contemplated thereby does not
purport to be complete and is qualified in its entirety by reference to the full text of such agreements, copies of which are incorporated
by reference as set forth in Exhibits 10.1 through 10.3 of this Current Report.

Insider
Loan

On
December 31, 2024, Nicholas Liuzza, the Chief Executive Officer of Beeline Financial Holdings, Inc., the Company’s wholly-owned
subsidiary, loaned $700,000 to Beeline Loans Inc. (“ Beeline Loans”), an indirect subsidiary of the Company, and in exchange
Beeline Loans issued Mr. Liuzza a demand promissory note in the aggregate principal amount of $700,000, which accrues