Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1147

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1147
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the DSA on September 29, 2023, Eastside issued to the SPV 200,000 shares of its Series C Preferred Stock. Each share of Series C Preferred
Stock has a stated value of $28.025 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 C Preferred Stock with an initial conversion price of $30.50 per share.

During 2024, the SPV converted
200,000 shares of its Series C Preferred Stock into 183,784 shares of common stock, see Note 5 – Debt Exchange Agreement.
In January 2025, the Certificate of Designation was withdrawn for the Series C Preferred Stock.

Issuance of Series D Preferred Stock

Each share of
Series D Preferred Stock has a stated value of $10.00
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 D Preferred Stock with an initial conversion price of $18.00
per share. In the event that the Company declares a dividend payable in cash or stock to holders of any class of the Company’s
stock (including the Series B Preferred Stock), the holder
of a share of Series D Preferred Stock will be entitled to receive an equivalent dividend on an as-converted basis. In the event of a
liquidation of the Company, the holders of Series D Preferred Stock will share in the distribution of the Company’s net assets
on an as-converted basis equally with the Series C Preferred Stock and Series E Preferred Stock, subordinate only to the senior position
of the Series B Preferred Stock. The number of shares of common stock into which a holder may convert Series D Preferred Stock is limited
by a beneficial ownership limitation of 9.99%. The Series D Preferred Stock conversion price and the floor price will be subject to equitable
adjustment in the event of stock splits, reverse splits and similar events. The Series D Preferred Stock is non-voting.

Pursuant to the terms of
the Debt Exchange Agreement on October 7, 2024, Eastside issued a total of 255,474 shares of Series D Preferred Stock to Bigger and District
2, and they released the Company from liability for $2.6 million of unsecured debt. See Note 5 – Debt Exchange Agreement.

In
conjunction with the Senior Secured Notes entered into on November 14, 202