Eastside Distilling draws additional $1M under TQLA credit line; director Gwin steps down from board

Beeline Holdings, Inc.

On April 19, Eastside borrowed an additional $1M from TQLA, increasing total principal to $3M at 9.25% interest.
The $3M note matures March 21, 2023; collateral includes finished spirits inventory and Craft Canning membership interests.
Geoffrey Gwin resigned from the Board on April 18 but continues as Interim CEO and CFO.
Proceeds from the note are for Azuñia inventory purchase and general corporate purposes.
The note is subordinated to Live Oak Bank debt of approximately $1.96M.

item 2.03 item 5.02 item 9.01

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Departed

Geoffrey Gwin

Member of the Board of Directors

BLNE · Beeline Holdings, Inc.

Effective: 2022-04-18
Filed: April 21, 2022, 7:59 PM ET

On April 18, 2022, Geoffrey Gwin resigned from his position as a member of the Board of Directors of Eastside Distilling, Inc. (“Eastside”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Geoffrey Gwin resigned as Member of the Board of Directors at Beeline Holdings, Inc..

Action: resigned
Role: Member of the Board of Directors

Exact text from the filing

On April 18, 2022, Geoffrey Gwin resigned from his position as a member of the Board of Directors of Eastside Distilling, Inc. (“Eastside”).

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Beeline Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-010633

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