Eastside Distilling Inc (EAST)

[Watcher31]

To approve an amendment to the Company’s articles of incorporation to increase the number of authorized shares of the Company’s common stock, par value $0.0001 per share, from 15,000,000 to 35,000,000, which we refer to as the “Charter Amendment Proposal”;
4. To approve a proposal, which we refer to as the “Anti-Dilution Approval Proposal,” to approve the anti-dilution protection provisions included in (a) Three Million Three Hundred Thousand Dollars ($3,300,000) of principal amount of six percent (6%) secured convertible promissory notes of the Company, which notes are convertible into shares of common stock, pursuant to the terms and conditions set forth in the notes with an initial conversion price of $2.20 per share, and (b) warrants to purchase up to 900,000 shares of common stock at an exercise price equal to $2.65 per share issued in connection with the Company’s entry into a securities purchase agreement with accredited investors for their purchase of the Notes and Warrants for gross proceeds of $3.3 million;