UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 14, 2025
BEELINE HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
| Nevada | 001-38182 | 20-3937596 | ||
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
188 Valley Street, Suite 225
Providence, RI 02909
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (458) 800-9154
Securities registered pursuant to Section 12(b) of the Act:
| Common Stock, $0.0001 par value | BLNE | The Nasdaq Stock Market LLC | ||
| (Title of Each Class) | (Trading Symbol) | (Name of Each Exchange on Which Registered) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (CFR §240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry Into a Material Definitive Agreement
As previously disclosed, on November 14, 2024, Beeline Holdings, Inc. (the “Company”) sold $1,938,000 of principal amount of senior secured notes (the “Notes”) and pre-funded warrants to purchase 363,602 shares of common stock for gross proceeds of $1,615,000. In connection with the closing, on November 14, 2024, two Note holders (the “Holders”) each executed a side letter agreement with the Company, each providing that a number of shares of Series D Convertible Preferred Stock (the “Series D”) equal to $333,333.33 of the stated value of the Series D shall be eligible for conversion into shares of the Company’s common stock beginning on April 7, 2025, at a conversion price equal to the lower of (i) $5.00 per share; or (ii) the five-day volume weighted average price ending on April 7, 2025, subject to a floor price of $2.50 per share. By virtue of this agreement, each holder’s 33,333 shares of Series D is now convertible at an adjusted conversion price of $2.50 per share.
In March 2025, the Company and the two Holders extended the maturity date of their Notes from March 14, 2025 to April 14, 2025 in exchange for an increase to the principal of the Notes by 10%.
On April 14, 2025, the Company and each of the two Holders entered into an agreement for a second extension of the maturity dates of the Notes held by the Holders, having total combined principal of $880,000 (giving effect to the 10% increase in principal from the prior extension), to May 14, 2025, which extension was subject to the condition that as of 4:00 p.m., Eastern Time on April 14, 2025 (the “Deadline”) the Company issue to each of the Holders the 133,333 shares of common stock underlying the Holder’s Series D, comprised of the original 18,518 shares plus the additional 114,815 shares by virtue of the side letter (the “Shares”) without any restrictive legends. The new maturity dates are May 14, 2025.
The terms of the recent extension are as follows: (i) if the Notes are paid off on or before April 29, 2025, then there will be no additional principal payment required; and (ii) if the principal of the applicable Notes are not paid off on or before April 29, 2025 but are paid on or before May 13, 2025, then an additional payment in an amount equal to 5% of the outstanding principal of the applicable Notes ($22,000 per applicable Note) will be due. The terms of the recent extension also provided that if by the Deadline the Shares are not issued to the Holders without any restrictive legends, the maturity dates shall be accelerated to April 18, 2025 and an additional principal sum of 10% of the outstanding principal of the applicable Note ($44,000 per applicable Note) shall be due.
This Current Report on Form 8-K is being filed to disclose the foregoing, and to include as Exhibit 5.1 the legal opinion with respect to the 266,666 shares under the new prospectus supplement filed on April 14, 2025 in connection with the agreements described above.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Incorporated by Reference |
Filed or Furnished |
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| Exhibit # | Exhibit Description | Form | Date | Number | Herewith | |||||
| 5.1 | Opinion of Law Offices of Harvey Kesner, P.C. regarding the validity of securities to be issued | Filed | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 14, 2025
| BEELINE HOLDINGS, INC. | ||
| By: | /s/ Nicholas R. Liuzza, Jr. | |
| Nicholas R. Liuzza, Jr. | ||
| Chief Executive Officer | ||
Exhibit 5.1

April 12, 2025
Beeline Holdings, Inc.,
188 Valley Street, Suite 225
Providence, RI 02909
Att: Nicholas Liuzza, Jr.
| Re: | Registration Statement on Form S-3 |
SEC File No. 333-284723
Ladies and Gentlemen:
We have acted as counsel to Beeline Holdings, Inc., a Nevada corporation (the “Company”), in connection with the preparation and filing with the Securities and Exchange Commission (the “Commission”) of a Registration Statement on Form S-3, as amended February 11, 2025 (such registration statement, as may be amended from time to time, is herein referred to as the “Registration Statement”), under the Securities Act of 1933, as amended (the “Act”) (File Number 333-284723) (the “Registration Statement”),that was declared effective by the SEC on February 12, 2025. The Registration Statement includes a base prospectus (the “Prospectus”). The Prospectus provides that it will be supplemented in the future by one or more supplements to the Prospectus, free writing prospectuses, or term sheets.
On October 7, 2024 the Company issued Series D Convertible Preferred Stock (the “Series D”) to two investors Bigger Capital Fund, LP and District 2 Capital Fund, LP (each a “Selling Stockholder” and collectively, the “Selling Stockholders”). On November 14, 2024 the Company entered into side letters with each of the Selling Stockholders. Pursuant to the side letters each selling stockholder is entitled to convert $333,333 of stated value of Series D into shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at an adjusted conversion price of $2.50 per share or a total of 266,666 shares of Common Stock (the “Series D Shares”) as identified in the prospectus supplement a part of the Registration Statement. The Registration Statement relates to the registration under the Securities Act of up to 266,666 shares of the Company’s common stock, par value $0.0001 per share (the “Common Shares”) to be sold by the Selling Stockholder upon conversion of the Series D stock.
In connection with this opinion, we have examined originals or copies, certified or otherwise identified to our satisfaction, of: (i) the Registration Statement, (ii) the Amended and Restated Certificate of Incorporation of the Company, as amended, as currently in effect (the “Certificate of Incorporation”); (iii) the Amended and Restated Bylaws of the Company as currently in effect (the “Bylaws”); (iv) the Series D certificate of designations and side letters; and (v) certain resolutions of the Board of Directors of the Company. We have also examined originals or copies, certified or otherwise identified to our satisfaction, of such records of the Company and such agreements, certificates of public officials, certificates of officers or other representatives of the Company and others, and such other documents, certificates and records as we have deemed necessary or appropriate as a basis for the opinion set forth herein.
In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified, conformed or photostatic copies, and the authenticity of the originals of such copies. In making our examination of executed documents, we have assumed that the parties thereto, other than the Company, had the power, corporate or other, to enter into and perform all obligations thereunder and have also assumed the due authorization by all requisite action, corporate or other, and the execution and delivery by such parties of such documents and the validity and binding effect thereof on such parties. As to any facts material to the opinion expressed herein which we have not independently established or verified, we have relied upon statements and representations of officers and other representatives of the Company and others.
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| 212-323-7499 | ||
| harvey@hkesnerlaw.com | www.hkesnerlaw.com |

Based upon the foregoing and subject to the stated assumptions, exceptions and qualifications, as of the date hereof, we are of the opinion that the Series D Shares have been duly authorized by all necessary corporate action on the part of the Company and, when issued, delivered and paid for in accordance with the Series D issuances, will be validly issued, fully paid and non-assessable.
The opinion expressed above is limited to the Nevada Revised Statutes. Our opinion is rendered only with respect to the laws, and the rules, regulations and orders under those laws, that are currently in effect. We neither express nor imply any obligation with respect to any other laws or the laws of any other jurisdiction or of the United States. For purposes of this opinion, we assume that the Series D Shares will be issued in compliance with all applicable state securities or blue sky laws.
We are opining only as to matters expressly set forth herein, and no opinion should be inferred as to any other matters. This opinion is rendered as of the date hereof. We disclaim any obligation to advise you of any subsequent legal or factual developments that affect any matters or opinions set forth herein.
We understand that you wish to file this opinion as an exhibit to the Registration Statement, and we hereby consent thereto. We hereby further consent to the reference to us under the caption “Legal Matters” in the prospectus included in the Registration Statement. In giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission.
| LAW OFFICE OF HARVEY KESNER, P.C. | |
| /s/ LAW OFFICE OF HARVEY KESNER P.C. |
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| 212-323-7499 | ||
| harvey@hkesnerlaw.com | www.hkesnerlaw.com |