Company: BLNE
Filing Date: 2025-02-05
Form Type: DEF 14A
Source: 0001493152-25-005006
Chunk: 181

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-05
Form: DEF 14A
Chunk 181
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 2023, the Company entered into the DSA, pursuant to which the Company issued to the SPV 200,000shares of its Series C Preferred Stock. Each share of Series C Preferred Stock has a stated value of $28.025and 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 C Preferred Stock with an initial conversion price of $3.05per share.

On September 6, 2024, the SPV converted 82,415shares of its Series C Preferred Stock into 757,395shares of common stock.

Bridgetown Spirits Corp.

Subsequent to execution of the Debt Agreement, Bridgetown issued 1.0million shares of common stock to the Company, representing all of the issued and outstanding capital stock of Bridgetown.

Stock-Based Compensation

On September 8, 2016, the Company adopted the 2016 Equity Incentive Plan (the “2016 Plan”). Pursuant to the terms of the plan, on January 1, 2023 the number of shares available for grant under the 2016 Plan reset to 437,993shares, equal to 8% of the number of outstanding shares of the Company’s capital stock, calculated on an as-converted basis, on March 31 of the preceding calendar year, and then added to the prior year plan amount. As of September 30, 2024, there were 2,120options and 196,619restricted stock units (“RSUs”) outstanding under the 2016 Plan, with vesting schedules varying between immediate or three (3) years from the grant date.

A summary of all stock option activity as of and for the nine months ended September 30, 2024 is presented below:

Summary of Stock Options Activity

|                                          |     | #          
 of Options |       |     | Weighted-      
 Average        
 Exercise Price |       |
|:-----------------------------------------|:----|:-----------|------:|:----|:---------------|------:|
| Outstanding                              
 as of December 31, 2023                  |     |            | 2,120 |     | $              | 57.95 |
| Outstanding                              
 and Exercisable as of September 30, 2024 |     |            | 2,120 |     | $              | 57.95 |

The aggregate intrinsic value of options outstanding as of September 30, 2024 was