Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 30

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 30
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 months ended June 30, 2025
and 2024, the Company accrued 0.1 million of preferred dividends.

Issuance
of Series C Preferred Stock

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January 2025, the Certificate of Designation was withdrawn for the Series C Preferred Stock.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.

During
the six months ended June 30, 2025, 255,474 shares of Series D Preferred Stock were converted into 371,559 shares of common stock.

    24

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

June 30, 2025

(Unaudited)

Issuance
of Series E Preferred Stock

Each
share of Series E 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 E Preferred Stock with an initial conversion
price of $20.00, subject to an automatic adjustment on October 31, 2025 equal to the average of the VWAPs for the five trading days immediately
preceding the Measurement Date (390 days after the closing under the Debt Exchange Agreement), subject to a “Floor Price