Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 15

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 15
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arrants in the Series G and G Warrant offering in exchange for $150,000.

In January 2025, we issued a consultant 264,796 shares of Series G as payment for past services, and may issue the consultant $10,000 per month of Series G or common stock (subject to shareholder approval) in lieu of cash payments.

Equity Line of Credit

On December 31, 2024 the Company entered into a common stock Purchase Agreement and related Registration Rights Agreement (collectively, the “ELOC Agreement”) with C/M Capital Master Fund LP (“C/M”) pursuant to which the Company agreed to sell, and C/M agreed to purchase, up to $35 million of the Company’s common stock (which was later reduced to $20 million), subject to a sale limit of 19.99% of the outstanding shares of the Company’s common stock prior to shareholder approval in accordance with Nasdaq rules, which limitation is referred to in this Proxy Statement as the “Exchange Cap”. In connection with entering into the ELOC Agreement, the Company agreed to issue C/M shares of Series G having a value of 1.5% of the maximum ELOC amount. The Company and C/M also entered into a side letter agreement pursuant to which the parties agreed to certain future changes to the ELOC Agreement as may be requested based on the Company and its counsel’s review of the ELOC Agreement and as are reasonably acceptable to C/M. The ability of C/M to convert the underlying common stock or comply with the terms of the ELOC Agreement is subject to receiving shareholder approval as required by the rules of Nasdaq. If we issue any shares of common stock under the ELOC, we do not expect that we will issue more than 39,215,686 shares of common stock since if we issue any shares below $0.51 per share, the holders of our Series G get the benefit of anti-dilution rights and get more shares of common stock. Because we are not under an obligation to sell any shares under the ELOC, management believes the above estimated maximum is a reasonable estimate of the maximum number of shares we may issue in the ELOC. The actual number may be substantially less and will be dependent upon our future common stock price under a complex formula tied to the market prices, volume, volume weighted average prices, and various other factors as of applicable future dates as provided under the ELOC Agreement.

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Share Issuance Proposals Each of the securities described above contain voting and conversion