Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 25

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 25
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    $1,938 
  
    Side letter 
     -  
     448 
  
    Senior secured debentures 
     1,299  
     3,600 
  
    Total 
     1,299  
     5,986 
  
    Accrued interest 
     -  
     199 
  
    Debt issuance costs 
     -  
     (1,719)
  
    Total secured credit facilities, net 
    $1,299  
    $4,466 

Purchase
Agreement

On
November 14, 2024, the Company sold $1.9 million in aggregate principal amount of Senior Secured Notes (the “Notes”) and
Pre-Funded Warrants to purchase a total of 36,360 shares of common stock for total net proceeds of $1.6 million in a private placement
offering (the “Offering”). As of June 30, 2025, debt issuance costs were fully amortized.

In
March 2025, the Company and certain of the holders agreed to an extension of the maturity date to April 14, 2025 in exchange for an increase
to the principal of the notes by 10%, and two lenders were each paid their principal balance plus 2.5% interest of $0.3 million. On April
14, 2025, the Company and the remaining Note holders entered into an agreement for a second extension to May 14, 2025 for an additional
payment in an amount equal to 5% of the outstanding principal of the applicable Notes.

On
May 12, 2025, the Company entered into an agreement with two Note holders to extend the maturity date to August 14, 2025. On June 26,
2025, the Company amended $0.5 million of the Notes by making them convertible into shares of the Company’s common stock at a conversion
price of $1.32 per share. These Notes were subsequently converted to common stock at the fair of common stock and therefore no gain or
loss on the conversion, see Note 15 – Stockholders’ Equity. Additionally, these same lenders extinguished an extension
fee of $0.1 million.

    21

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

June 30, 2025

(Unaudited)

On
May 14, 2025, the Company entered into