Company: BLNE
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001641172-25-008111
Chunk: 6

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-01
Form: 424B5
Chunk 6
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 effect to such reverse stock split.

Approval of Initial Listing Application

On March 5, 2025, the Company received a letter from Nasdaq notifying the Company that it has approved its application for listing of the Company’s common stock on Nasdaq, which was submitted by the Company in connection with its Merger with Beeline Financial. Although the Company’s common stock was listed on Nasdaq as of the time of the Merger, the Company was required to file an initial listing application due to the change of control, which was approved at the special meeting of shareholders described below.

Shareholder Approvals at Special Meetings

On March 7, 2025, the Company held a special meeting of shareholders at which the shareholders voted to approve (i) the conversions, exercises and voting rights of securities issued in and following the Merger, (ii) sales under an equity line of credit facility in an amount of up to $20 million; (iii) a change of the Company’s name to “Beeline Holdings, Inc.” and (iv) ratification of Salberg & Company, P.A. as the Company’s auditors for the fiscal year ended December 31, 2024.

On January 27, 2025, the Company held a special meeting of the shareholders at which the Company’s shareholders voted to adopt and approve an amendment to the Company’s Articles of Incorporation to increase the number of authorized shares of the Company’s common stock to 100,000,000 from 6,000,000. Such amendment was filed and took effect on January 29, 2025.

Conversions of Preferred Stock

Beginning on March 7, 2025, following the shareholder approval of the Merger and conversion of shares of preferred stock issued in and following the Merger at the special meeting, holders of the Company’s Series F Convertible Preferred Stock, Series F-1 Convertible Preferred Stock, and Series G Convertible Preferred Stock (“Series G”) converted certain of their preferred shares into shares of common stock. As a result of these conversions and other issuances, there are 8,344,693 shares of common stock issued and outstanding as of April 30, 2025, and Nicholas Liuzza, Jr. the Chief Executive Officer of the Company, beneficially owns 1,908,882 of the outstanding shares of common stock representing approximately 23% of the outstanding voting power. This does not include 2,333,629 shares of common stock underlying shares of Series G (as