Beeline Holdings entered into a Securities Exchange Agreement to acquire full ownership of MagicBlocks, consolidating its prior 47.6% stake into a wholly owned subsidiary. As part of the deal, Beeline issued 211,679 common shares at $2.25 per share to third-party SAFE holders, retiring approximately $476,277 of aggregate principal, and cancelled all outstanding MagicBlocks stock options. Selling shareholders received nominal cash consideration. The transaction is expected to streamline control and simplify MagicBlocks' capital structure within Beeline.
Agreement details:
- Agreement type: Securities Exchange Agreement for acquisition and SAFE exchange
- Counterparty: MagicBlocks
- Signed / Effective: Jun 30 2026 / Jun 30 2026
- Duration / Termination: N/A
- Reason: Consolidate ownership and simplify MagicBlocks capital structure
Original SEC Filing:
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