Eastside Distilling ( (BLNE) ) has provided an update.
On March 7, 2025, Eastside Distilling, Inc., now Beeline Holdings, amended its equity line of credit agreement, reducing the maximum amount from $35 million to $10 million. The company raised $230,000 through the sale of Series G Convertible Preferred Stock and warrants, intending to use proceeds for working capital. Shareholders approved several proposals, including a merger share issuance, an equity line of credit, a name change to Beeline Holdings, and auditor ratification. The company plans a one-for-10 reverse stock split effective March 12, 2025, to meet Nasdaq’s minimum bid price requirements. Beeline Holdings has received Nasdaq approval for a new listing, aligning with its strategic focus on AI-driven online mortgage business.
More about Eastside Distilling
Eastside Distilling, Inc., operating as Beeline Holdings, is a producer of craft spirits such as whiskey, vodka, and rum, based in Portland, OR. The company is committed to quality, innovation, and sustainability, reflecting the Pacific Northwest’s spirit. It has recently merged with Beeline Financial Holdings, a technology-driven mortgage lender focused on AI-powered digital platforms to simplify home financing.
YTD Price Performance: -12.08%
Average Trading Volume: 397,688
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.62M
See more insights into BLNE stock on TipRanks’ Stock Analysis page.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com