Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 729

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 729
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 16 of the Exchange Act by virtue of being an executive officer or director of the Company which presently only applies
to the Company’s Chief Executive Officer.

The Series F and F-1 Preferred Stock was valued at $48.2
million, see Note 4 - Merger. The conversion of Series F and F-1 Preferred Stock was approved at a special meeting of
stockholders on March 7, 2025, see Note 25 – Subsequent Events.

In conjunction with the Senior Secured
Notes entered into on November 14, 2024, the Company entered in a side letters which permitted an affiliate who invested $0.4
million to exchange that amount of stated value of shares of Series F Preferred Stock for a $0.4
million 120-day promissory note and has substantially identical terms to the Senior Secured Notes, except it is subordinated with
respect to its security interest. This affiliate exchanged 896,667
shares of Series F Preferred Stock. Additional side letters permitted two investors to each receive 250,000
shares of Series F Preferred Stock. The net amount of these side letters was (396,667) shares. See Note 16 – Secured Credit
Facilities.

Issuance of Series G Preferred Stock

Each share of Series G Preferred Stock
has a stated value of $0.51
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 G Preferred Stock with an initial conversion price of $5.10
per share. Initial conversion price is subject to adjustment as provided therein including in the event of an issuance of common stock
or common stock equivalents at a price per share that is less than the conversion price, subject to a floor price of 20% of the Nasdaq
Minimum Price as of the initial closing date of the offering of such Series G Preferred Stock. The Series G Preferred Stock conversion
price is subject to equitable adjustment in the event of a stock split, reverse split and similar events. The number of shares of Common
Stock into which a holder may convert Series G Preferred Stock will be limited by a beneficial ownership limitation, which restricts
the number of shares of the Company’s common stock that the holder and its affiliates may beneficially own after the conversion
to 4.99%.The holder of Series G Preferred Stock has no conversion or voting rights prior to stockholder approval of such actions. In
the event of a liquid