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.

The company plans to use MagicBlocks' technology for BeelineEquity lead generation, underwriting, transaction automation, and production infrastructure.

If completed, MagicBlocks would become a wholly owned subsidiary of Beeline. Its leadership and development personnel are expected to join the company.

Beeline said the deal could help increase transaction volume, reduce production and customer acquisition costs, and create new software-as-a-service revenue opportunities.

Executive Commentary

"MagicBlocks represents a major strategic step forward for Beeline, further differentiating our digital-first approach," said Nick Liuzza, chief executive officer of Beeline.

"The future of mortgage banking and real estate finance will be driven by AI, blockchain infrastructure, and tokenization. This acquisition positions Beeline at the center of that evolution while strengthening our ability to deliver faster, more transparent, and more scalable financial products, creating a better experience for customers."

"We believe combining MagicBlocks' infrastructure with Beeline's lending platform creates a unique opportunity to redefine how consumers access mortgage capital and real estate liquidity," Liuzza added.

BLNE Price Action: Beeline Holdings shares were up 2.22% at $1.38 during premarket trading on Thursday, according to Benzinga Pro data.

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