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Beeline Completes Strategic Divestiture to Accelerate Digital Mortgage, Title, and Equity Product Expansion
Newsfileยท 2025-07-29 12:30
Core Viewpoint - Beeline Holdings, Inc. has disposed of its majority ownership in Bridgetown Spirits Corp. for $367,404, reaffirming its focus on proptech and mortgage sectors while strengthening its balance sheet [1][2]. Group 1: Transaction Details - The transaction closed on July 25, 2025, with Beeline selling its common stock in Spirits to a group led by former CEO Geoffrey Gwin [2]. - As part of the deal, Beeline will write off certain accounts payable and eliminate the need to fund Spirits, while also providing a $75,000 senior secured term loan to Spirits [2]. Group 2: Strategic Focus - Beeline aims to capitalize on new products and an emerging platform in a market expected to recover in 2026, with strong quarterly revenue growth outpacing industry averages [3]. - The divestiture allows Beeline to focus exclusively on its core business, while Bridgetown Spirits can operate as a private company [3]. Group 3: Market Position and Future Outlook - Beeline is set to report its second-quarter earnings on August 14, 2025, with Ladenberg Thalman & Co. initiating coverage and issuing a "Buy rating" with a $4.50 price target [3]. - The closing price of Beeline's stock on July 28, 2025, was $2.14 [3].