Company: BLNE
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001493152-25-021786
Chunk: 22

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-12
Form: 424B5
Chunk 22
---
19 |

<div align='center'>DILUTION</div>

If you purchase Shares in this offering, your interest will be diluted to the extent of the difference between the price per share you pay in this offering and the net tangible book value per share of our Common Stock after this offering. Our net tangible book value as of June 30, 2025 was approximately $17,367,381, or $0.95 per share. Net tangible book value per share represents the amount of our total tangible assets, excluding goodwill and intangible assets, less total liabilities divided by the total number of shares of our Common Stock outstanding.

The below table includes the pro forma effect of:

| ● | proceeds                                                                                                                  
 of $2,456,235 from sales and issuances of securities which occurred between June 30, 2025 and the date of this prospectus 
 supplement;                                                                                                               |
| ● | debt                                                                                                                      
 payments of $3,384,570;                                                                                                   |
| ● | the                                                                                                                       
 disposal of our spirits segment;                                                                                          |
| ● | estimated                                                                                                                 
 commissions and estimated offering expenses; and                                                                          |
| ● | use                                                                                                                       
 of cash in operations from July 1, 2025 through the date of this prospectus supplement.                                   |

After giving effect to the above pro forma adjustments, our adjusted net tangible book value as of June 30, 2025 would have been approximately $12,699,266 or approximately $0.55 per share. This represents an immediate increase in the net tangible book value of approximately $0.15 per share to our existing stockholders and an immediate decrease in adjusted net tangible book value of approximately $0.90 per share to purchasers of our Common Stock in this offering. Both the actual and pro forma columns give effect to the 1-for-10 reverse stock split effective on March 12, 2025.

|                                                                             |     | Actual |       |   |     | Pro forma |       |   |
|:----------------------------------------------------------------------------|:----|:-------|------:|:--|:----|:----------|------:|:--|
| Offering price per Share                                                    |     | $      |  1.60 |   |     | $         |  1.60 |   |
| Net tangible book value per share as of June 30, 2025                       |     | $      |  0.95 |   |     | $         |  0.55 |   |