NEWS
Eastside Distilling, Inc. Announces Closing of its Merger with AI Powered Beeline Financial Holdings, Inc.
Eastside Distilling (EAST) has closed its merger with Beeline Financial Holdings, a private mortgage and title technology company. The merger includes a debt-for-equity exchange and the sale of Craft Canning + Printing. Eastside issued a combination of common and preferred stock to Beeline shareholders as merger consideration.
Key points:
Two new independent board members, Joe Freedman and Joe Caltabiano, were appointed
Christopher Moe, Beeline's CFO, will serve as Eastside's CFO
The merger positions Eastside as an emerging leader in digital mortgage origination
Beeline reports month-over-month double-digit percentage revenue growth
Eastside believes the transaction will satisfy Nasdaq's Continued Listing requirements
Eastside shareholders will vote on the transaction later this year.
Key points:
Two new independent board members, Joe Freedman and Joe Caltabiano, were appointed
Christopher Moe, Beeline's CFO, will serve as Eastside's CFO
The merger positions Eastside as an emerging leader in digital mortgage origination
Beeline reports month-over-month double-digit percentage revenue growth
Eastside believes the transaction will satisfy Nasdaq's Continued Listing requirements
Eastside shareholders will vote on the transaction later this year.
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