8-K
filed October 7, 2024, 7:59 PM ET
ticker BLNE
CIK 0001534708
M&A
confidence high
sentiment positive
materiality 0.85
Beeline Holdings, Inc. (BLNE): M&A transaction — Eastside Distilling merges with Beeline Financial, eliminates $6.6M debt, appoints new directors and CFO
Beeline Holdings, Inc.
- Closed debt exchange: $4,137,581 secured debt and $2,465,169 unsecured debt released; issued Series D/E preferred and common stock to creditors.
- Merger with Beeline Financial Holdings: Beeline shareholders receive 69,482,229 Series F and 517,771 Series F-1 preferred shares; Eastside gains mortgage tech platform.
- Board expanded from 4 to 6; Joe Freedman and Joe Caltabiano appointed directors; Christopher Moe named CFO.
- CEO Geoffrey Gwin gets $90,000 cash bonus, 400,000 vesting shares, and up to 1% of additional shares if Series F conversion price adjusted.
- Eastside believes it has regained Nasdaq equity compliance (formerly $853,000 equity vs $2.5M minimum) after the transactions.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joe Freedman was appointed as Director at Beeline Holdings, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Board of Directors voted to increase the number of members of the Board of Directors from four to six and appointed to the vacancies two individuals designated by Beeline: Joe Freedman and Joe Caltabiano.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christopher Moe was appointed as Chief Financial Officer at Beeline Holdings, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
the Eastside Board of Directors appointed Christopher Moe, the Chief Financial Officer of Beeline, to serve as the Chief Financial Officer of Eastside.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joe Caltabiano was appointed as Director at Beeline Holdings, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Board of Directors voted to increase the number of members of the Board of Directors from four to six and appointed to the vacancies two individuals designated by Beeline: Joe Freedman and Joe Caltabiano.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Beeline Holdings, Inc.: Filed Certificates of Designation for Series D, E, F, and F-1 Preferred Stock, establishing terms and preferences (effective 2024-10-07).
- Change
- charter amendment
- Effective
- 2024-10-07
Exact text from the filing
On October 7, 2024 Eastside filed with the Nevada Secretary of State a Certificate of Designation of 255,474 shares of Series D Preferred Stock and a Certificate of Designation of 200,000 shares of Series E Preferred Stock and a Certificate of Designation of 70,000,000 shares of Series F Preferred Stock and a Certificate of Designation of Series F-1 Preferred Stock.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Beeline Holdings, Inc. completed a disposition involving The B.A.D. Company, LLC; Aegis Security Insurance Company; Bigger Capital Fund, LP; District 2 Capital Fund, LP; LDI Investments, LLC; William Esping; WPE Kids Partners; Robert Grammen (closed 2024-10-07).
- Action
- disposition
- Counterparty
- The B.A.D. Company, LLC; Aegis Security Insurance Company; Bigger Capital Fund, LP; District 2 Capital Fund, LP; LDI Investments, LLC; William Esping; WPE Kids Partners; Robert Grammen
- Closing
- 2024-10-07
Exact text from the filing
On October 7, 2024, a closing was held pursuant to the terms of the Debt Agreement. At that closing, the following transactions were completed: ● Aegis, Bigger, District 2 and LDI transferred to Eastside a total of 31,234 shares of Eastside Series C Preferred Stock and 119,873 shares of Eastside Common Stock. The Investors also released Eastside from liability for $4,137,581 of senior secured debt and $2,465,169 of unsecured debt. In consideration of their surrender of stock and release of debt, Eastside caused Craft to be merged into a limited liability company owned by the Investors.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.