Eastside Distilling Successfully Closes $5 Million Private Placement With CEO’s Significant Investment

Eastside Distilling, Inc. (NASDAQ: BLNE), operating as Beeline Holdings, announced the culmination of a $5 million private placement on February 19, 2025. Notably, more than half of this funding originated from the company’s CEO, underpinning a strong belief in the company’s direction.

The purpose behind this capital influx is to drive accelerated growth, reduce debt, and enhance Beeline’s AI-centered, cost-effective mortgage origination platform. Furthermore, the investment will bolster the rapid expansion of Beeline’s subsidiary, Beeline Labs, Inc., known for its groundbreaking use of automation to revolutionize mortgage quality control and compliance processes.

Founder and CEO of Beeline Financial Holdings, Inc., Nick Liuzza demonstrated unwavering dedication to Beeline’s future by personally injecting $2.9 million into the venture. This substantial investment underscores the company’s progress in modernizing the traditional mortgage landscape.

Liuzza emphasized, “We are revolutionizing mortgage origination by eliminating inefficiencies, lowering costs, and unlocking access to an industry ripe for innovation. Our AI-driven solutions are gaining rapid adoption, and this investment positions us to scale faster than ever before.”

The recent funding follows a successful prior capital raise by MagicBlocks and the launch of BlinkQC, an AI-powered mortgage quality control solution designed to streamline compliance, auditing, and risk management for lenders. The initial reception of BlinkQC has been promising, with notable enhancements in processing times and accuracy for lenders leveraging the platform.

Building on this momentum, Beeline Holdings plans to provide a comprehensive update on its advancements and growth trajectory in its Q4 2024 earnings report next month.

About Beeline Financial Holdings, Inc.
Beeline Financial Holdings, Inc. is a tech-driven mortgage lender and title provider dedicated to simplifying and expediting the home financing process through its fully digital, AI-driven platform. Headquartered in Providence, RI, the company aims to reshape the mortgage industry through innovation and consumer-centric solutions.

The release contains forward-looking statements in compliance with the Private Securities Litigation Reform Act of 1995, reflecting on the financing allocation, impact of AI solutions, and BlinkQC’s progress. As forward-looking statements are inherently uncertain due to changing circumstances, readers are cautioned against solely relying on them.

For further information, including risk factors, refer to filings made with the Securities and Exchange Commission by Eastside Distilling, Inc. The last Prospectus was lodged on January 14, 2025. Any forward-looking statements within this disclosure are valid as of their publication date. The company undertakes no obligation to publicly revise forward-looking statements unless mandated by law.

Contact:
[email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Eastside Distilling’s 8K filing here.

About Eastside Distilling

Eastside Distilling, Inc engages in the manufacture and marketing of hand-crafted spirits. Its products include bourbon, American whiskey, vodka, and rum. The company was founded by Lenny Gotter on February 11, 2008 and is headquartered in Portland, OR.