AcquisitionsJul 2, 2026, 05:27 PM
Beeline Holdings Acquires Remaining MagicBlocks Stake; Issues Shares
AI Summary
Beeline Holdings, Inc. announced that its wholly-owned subsidiary, Beeline Financial Holdings, Inc. (BFH), entered into a Securities Exchange Agreement to acquire the remaining stake in MagicBlocks, Inc., making MagicBlocks a wholly-owned subsidiary. BFH acquired common stock from selling shareholders for nominal cash and issued 211,679 shares of its common stock to Third-Party SAFE Holders, including CEO Nicholas R. Liuzza, Jr., in exchange for approximately $476,277 in SAFEs. Additionally, Beeline Holdings sold 1,370,131 common shares for $1,575,098.23 in an unregistered offering.
Key Highlights
- Beeline Holdings acquired the remaining stake in MagicBlocks, making it a wholly-owned subsidiary.
- BFH acquired MagicBlocks common stock from selling shareholders for nominal cash consideration.
- Issued 211,679 common shares to Third-Party SAFE Holders for $476,277 in aggregate principal.
- CEO Nicholas R. Liuzza, Jr. received 31,111 shares for his $70,000 Third-Party SAFEs.
- MagicBlocks' outstanding stock options were cancelled without any payment or consideration.
- Sold 1,370,131 common shares for $1,575,098.23 in an unregistered offering.
- The MagicBlocks acquisition was approved by a Special Committee of disinterested directors.
- Prior to closing, Beeline Holdings owned 47.6% of MagicBlocks.
Price Impact
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