Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 39

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 executive officer or director of the Company which presently only applies to the Company’s Chief Executive Officer.

The
conversion of Series F and F-1 Preferred Stock was approved at a special meeting of stockholders on March 7, 2025. During the three months
ended March 31, 2025, 57,020,394
and 421,186
shares of Series F and F-1 Preferred Stock, respectively, were
converted into 5,744,158
shares of common stock.

Issuance
of Series G Preferred Stock

Each
share of Series G Preferred Stock has a stated value of $0.51 and 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 G Preferred Stock with an initial conversion
price of $5.10 per share. The conversion price is subject to adjustment as provided therein including
that in the event of an issuance of common stock or common stock equivalents at a price per share that is less than the conversion price,
the conversion price then in effect will be reduced to such lower price per share, subject to certain exceptions and to a floor price
of 20% of the Nasdaq Minimum Price as of the initial closing date of the offering of such Series G Preferred Stock (see below for triggering
event). The result of such provision is that more shares of common stock will be issuable upon conversions of the Series G Preferred Stock
if there is a subsequent issuance at a lower price per share. The Series G Preferred Stock conversion price is subject to equitable adjustment
in the event of a stock split, reverse split, and similar events. The number
of shares of Common Stock into which a holder may convert Series G Preferred Stock will be limited by a beneficial ownership limitation,
which restricts the number of shares of the Company’s common stock that the holder and its affiliates may beneficially own after
the conversion to 4.99%.The holder of Series G Preferred Stock has no conversion or voting rights prior to stockholder approval of such
actions. In the event of a liquidation of the Company, the holders of Series G Preferred Stock will share in the distribution of the
Company’s net assets on an as-converted basis, subordinate only to the Series B Preferred Stock, Series C Preferred Stock, Series
D Preferred Stock, and Series E Preferred Stock. The conversion of Series G Preferred Stock was approved at a special meeting of stockholders
on March 7, 2025