Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 59

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 59
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 registration rights with respect to the shares of common stock issuable
upon conversion of the Series G.

On December 31, 2024 the Company
entered into a Common Stock Purchase Agreement and related Registration Rights Agreement (collectively, the “ELOC
Agreement”) with C/M Capital Master Fund LP (“C/M”) pursuant to which the Company agreed to sell, and C/M 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 Nasdaq rules. In connection with entering
into the ELOC Agreement, the Company agreed to issue C/M shares of Series G or another series of convertible preferred stock having
a value of $525,000. The Company and C/M 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 C/M. The ability of C/M 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.

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

Following the closing of the Merger on October 7, 2024, and the sale of the Craft business, the Company’s business lines entail the following: (1) Spirits, which operates as a distributor of various liquors, and (2) Beeline, which operates as a fintech mortgage lender and title provider. The following is a description of each of these businesses.

Spirits Business Overview and History

The Company was incorporated in 2004. Eastside commenced its current operations in 2014 as a distillery that markets its own products as well as third party products. During the past decade, the Company diversified by developing a canning and can printing business that marketed to the craft beer industry in the Pacific Northwest, and then, on October 7, 2024, the Company acquired Beeline. Throughout this time, however, the Company remained involved in the business of distributing beverage spirits.

On October 7, 2024, the Company organized Spirits as its subsidiary, and assigned to Spirits all of the assets and liabilities relating to the Company’s spirits operations. As part of a company-wide recapitalization effected on October 7, 202