Beeline sells majority stake in Bridgetown Spirits for $367,404

PROVIDENCE, R.I. - Beeline Holdings, Inc. (NASDAQ:BLNE), a small-cap technology company with a market capitalization of $27.3 million, has divested its majority ownership in Bridgetown Spirits Corp. for $367,404 through a Debt Satisfaction Agreement, according to a press release statement issued Tuesday. According to InvestingPro data, the company maintains impressive gross profit margins of nearly 61%.

The transaction, which closed on Friday, July 25, transfers Bridgetown Spirits’ common stock to a group led by Geoffrey Gwin, former CEO of Beeline and President of Spirits. As a result, Bridgetown Spirits is no longer a subsidiary of Beeline.

As part of the deal, Beeline will write off certain related accounts payable it had assumed during its October 2024 merger with Beeline Financial Holdings, Inc. The company also provided a $75,000 one-year senior secured term loan to Spirits and received a secured promissory note of $100,000 in return.

"Beeline continues to make moves designed to position itself to capitalize on its new products, an emerging platform and in a market that is expected to recover in 2026," said Chris Moe, CFO of Beeline, in the press release.

The divestiture represents the final asset held from Beeline’s forward merger completed on October 7, 2024. The company stated this move reinforces its focus on proptech, mortgage, alternative equity products and generating SAAS revenue.

Beeline is scheduled to report its second-quarter earnings on August 14, 2025. The company’s stock closed at $2.14 on Monday, July 28.

Ladenberg Thalman & Co. Inc. initiated coverage of Beeline on July 16, 2025, issuing a "Buy rating" with a $4.50 price target, according to the company statement.

In other recent news, Beeline Holdings, Inc. reported raising $6.5 million in equity capital during the last week of June and successfully reduced its debt by $5.3 million in the first half of 2025. The company now holds over $6 million in cash with third-party debt reduced to approximately $2.3 million. Beeline also announced the completion of its first stablecoin-based fractional equity sale, marking the start of several similar transactions ahead of a national launch expected in early August 2025. In leadership developments, Kristin Miller has been appointed to lead BlinkQC, Beeline’s new AI-powered mortgage quality control solution, which automates pre-closing audits for conventional mortgage files. Additionally, CEO Nicholas Liuzza, Jr. has further invested in the company by purchasing Series G Convertible Preferred Stock and warrants totaling $151,000. This transaction is part of a larger investment totaling over $4 million, conducted under a Securities Purchase Agreement. The company’s recent activities reflect strategic financial maneuvers and leadership changes aimed at enhancing its market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.