Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 52

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 52
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4, the parties executed Amendment No. 1 to the Merger Agreement and the closing occurred pursuant to the Merger Agreement pursuant to which Beeline merged into Merger Sub and with the name of the surviving corporation being changed to Beeline Financial Holdings, Inc. In the Merger, the stockholders of Beeline received a total of 69,482,229 shares of Series F and a total of 517,775 shares of Series F-1. The ratio in the Merger was 4.89252978530683 shares of Eastside common stock for each share of Beeline Common Stock, in each case determined on an as-converted basis.

The sale of the Eastside Series F and Series F-1 to the former Beeline stockholders was exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 (the “Securities Act”) and Rule 506(b) thereunder.

Simultaneously with the Merger, the Company engaged in the following transactions and actions:

First Amended and Restated Debt Exchange Agreement

On September 4, 2024, Eastside and its then subsidiary, Craft Canning & Bottling, LLC (“Craft”) entered into a Debt Exchange Agreement with The B.A.D. Company, LLC (the “SPV”), Aegis Security Insurance Company (“Aegis”), Bigger, District 2, LDI Investments, LLC (“LDI”), William Esping ((“Esping”), WPE Kids Partners (“WPE”) and Robert Grammen (“Grammen”), a director of the Company. Subsequent to the execution of the Debt Exchange Agreement, the assets of the SPV were distributed to its members, i.e. Aegis, Bigger, District 2 and LDI. To reflect the effect of the distribution on the transactions contemplated by the Debt Exchange Agreement, the parties, on October 3, 2024, executed the First Amended and Restated Debt Exchange Agreement (the “Debt Agreement”).

Subsequent to execution of the Debt Exchange Agreement, Eastside organized Spirits as a subsidiary and assigned to Spirits all of the assets held by Eastside in connection with its business of manufacturing and marketing spirits. Spirits issued 1,000,000 shares of Common Stock to Eastside.

On October 7, 2024 the closing of the following transactions under the Debt Agreement occurred:

| ● | Aegis,                                                                                           
 Bigger, District 2 and LDI transferred to Eastside a total of 31,