Company: BLNE
Filing Date: 2025-02-05
Form Type: DEF 14A
Source: 0001493152-25-005006
Chunk: 2

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-05
Form: DEF 14A
Chunk 2
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 the “ELOC”). The issuances of shares of common stock and related rights and terms under the Merger Share Issuance Proposal are referred to as the “Merger Share Issuance,” the issuances of shares of common stock and related rights and terms under the Equity Line of Credit Proposal are referred to as the “ELOC Share Issuance,” and the Merger Share Issuance and the ELOC Share Issuance are together collectively referred to as the “Share Issuances.”

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In connection with the Merger, the Company is also seeking to change its name to “Beeline Holdings, Inc.” to reflect a shift in and align our focus to the Beeline business following the Merger (the “Name Change”).

Eastside’s common stock is listed on The Nasdaq Capital Market (“Nasdaq”). Because the former Beeline shareholders will, if the Merger Share Issuance Proposal is approved, own upon conversion approximately 82.5% of the number of shares of a sum consisting of (i) common stock outstanding on October 7, 2024 or 3,730,625 shares, plus (ii) shares issuable upon conversion of the Series B Convertible Preferred Stock (the “Series B”) or 40,323 shares, shares issuable upon conversion of the Series D Convertible Preferred Stock (the “Series D”) or 1,419,300 shares, and shares issuable upon conversion of the Series E Convertible Preferred Stock (the “Series E”) or 1,000,000 shares, (iii) shares issuable on conversion of securities issued in the initial financing of the post-Merger company of at least $1.5 million and less than $3.25 million and (iv) shares issued to settle pre-existing liabilities, which other shares can add up to 14,848,485 shares without resulting in an increase in shares underling the Series F and F-1. This 82.5% is equal to approximately 70,000,000 shares of common stock.

Following approval of the Merger Share Issuances, we expect that Nicholas Liuzza, the Chief Executive Officer of Beeline, will be appointed as Chief Executive Officer of Eastside and Geoffrey Gwin, our current Chief Executive Officer, will be appointed as Executive Vice President or some other senior officer position and remain as Chairman of the Board.

The matters being brought before the shareholders, and certain other material information relating thereto, are described