24/7 Market News- Eastside Distilling Expands into FinTech Mortgage Services, by Merging with Beeline Financial Holdings

September 5, 2024

DENVER, Colo., Sep 05, 2024 (247marketnews.com)- Eastside Distilling (Nasdaq: EAST) reported that it signed a Merger Agreement with Beeline Financial Holdings, which operates an end-to-end, all-digital, AI-enhanced platform for homeowners and property investors.

Eastside also executed a debt-for-equity exchange with, and asset sale of Craft Canning + Digital Printing to, a group of private investors, to eliminate Eastside’s balance sheet debt.

Nick Liuzza, Beeline’s co-founder and CEO, commented, “Mortgage origination has yet to fully experience the dynamic and exciting transformation seen in other financial services sectors.

“Our disruptive, cloud-based, go-to-market strategy targets Millennials and Gen Z borrowers. The benefits of operating in the public markets to help Beeline achieve its goals are significant.”

Eastside will operate as a digital mortgage services company that will continue its legacy craft spirits business.

Geoffrey Gwin, Eastside’s CEO, added, “I couldn’t be more thrilled about this new growth platform, the opportunities it presents for our shareholders and the talented team and innovative technology joining the Eastside family. This development offers tremendous potential for our stakeholders. Nick and his team have demonstrated remarkable innovation and share a vision that aligns perfectly with our strategic objectives.”

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