Beeline Holdings, Inc. (NASDAQ:BLNE) on Thursday announced that it has entered into a non-binding letter of intent to acquire MagicBlocks’ remaining 52% stake.
MagicBlocks is an AI-driven real estate technology company, and Beeline expects the all-stock transaction to close in June
Existing Stake And Deal Terms Beeline already owns about 48% of MagicBlocks, whose platform powers Beeline’s chatbot, Bob. The company said Bob has helped increase lead-to-lock conversions by 8% at no incremental cost when customers use it on Beeline’s website. The proposed acquisition requires a definitive agreement and approval from a special committee of Beeline’s board.
SAFE noteholders must also approve the deal. MagicBlocks’ founders must sign employment agreements, and Beeline expects a third-party valuation of about $1 million. AI And Digital Asset Expansion Beeline said the acquisition would strengthen its AI capabilities and support its blockchain and digital asset strategy.