Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 116

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 in a private placement
offering (the “Offering”). As of September 30, 2025, debt issuance costs were fully amortized.

In
March 2025, the Company and certain of the holders agreed to an extension of the maturity date to April 14, 2025 in exchange for an increase
to the principal of the notes by 10%, and two lenders were each paid their principal balance plus 2.5% interest of $0.3 million. On April
14, 2025, the Company and the remaining Note holders entered into an agreement for a second extension to May 14, 2025 for an additional
payment in an amount equal to 5% of the outstanding principal of the applicable Notes.

    22

Beeline
                                            Holdings, Inc.

Notes
to Consolidated Financial Statements

September
30, 2025

(Unaudited)

On
May 12, 2025, the Company entered into an agreement with two Note holders to extend the maturity date to August 14, 2025. On June 26,
2025, the Company amended $0.5 million of the Notes by making them convertible into shares of the Company’s common stock at a conversion
price of $1.32 per share. These Notes were subsequently converted to common stock at the fair of common stock and therefore no gain or
loss on the conversion, see Note 15 – Stockholders’ Equity. Additionally, these same lenders extinguished an extension
fee of $0.1 million.

On
May 14, 2025, the Company entered into an agreement with the two other Note holders to extend the maturity date of each Note to May 26,
2025 after the Company paid 50% of the outstanding principal balance of $0.5 million. In June 2025, the Company repaid the remaining
the balance of $0.5 million.

The
Company also entered in three forms of side letters with the investors which (i) permitted one investor which along with an affiliate
invested $0.4 million to exchange that amount of stated value of shares of Series F Preferred Stock (the “Series F”) for
a $0.4 million 120-day promissory note to another affiliate, which note was issued immediately prior to the closing of the Offering and
has substantially identical terms to the Notes issued therein, except it is subordinated with respect to its security interest, (ii)
permitted two investors to