Company: IPST
Filing Date: 2025-08-18
Form Type: PRE 14A
Source: 0001788230-25-000134
Chunk: 35

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-18
Form: PRE 14A
Chunk 35
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 common stock, with the final decision as to whether to proceed with the Reverse Stock Split and the exact ratio of the Reverse Stock Split to be determined by our Board, in its sole discretion, following stockholder approval (if obtained), at any time prior to the one-year anniversary of the Special Meeting. If our stockholders approve the Reverse Stock Split Proposal, and the Board decides to implement it, the Reverse Stock Split will become effective upon the filing of the Reverse Stock Split Amendment with the Secretary of State of the State of Delaware (the “Effective Date”). The Reverse Stock Split will simultaneously impact all outstanding shares of our common stock. The Reverse Stock Split will affect all holders of our common stock uniformly, and common stockholder’s interest in our Company will be diluted as each such stockholder will hold the same percentage of the shares of common stock outstanding immediately following the Reverse Stock Split as that stockholder held immediately prior to the Reverse Stock Split, except for immaterial adjustments that may result from the treatment of fractional shares as described below. The Reverse Stock Split Amendment will not reduce the number of authorized shares of common stock (which will remain at 985,000,000 if the Authorized Share Proposal is approved by the stockholders at the Special Meeting or 490,000,000 if the Authorized Share Proposal is not approved by the stockholders at the Special Meeting) or preferred stock (which will remain at 10,000,000 if the Authorized Share Proposal is approved by the stockholders at the Special Meeting or 5,000,000 if the Authorized Share Proposal is not approved by the stockholders at the Special Meeting) and will not change the par value of the common stock or the preferred stock (which in each case will remain at $0.0001 per share).

Purpose of the Reverse Stock Split

TO CONTINUE TO SATISFY NASDAQ LISTING STANDARDS.

The Board believes that the Reverse Stock Split will enhance our ability to continue to satisfy Nasdaq’s continued listing requirements. One of Nasdaq’s listing requirements is that the bid price of our common stock remains at a minimum price of $1.00 per share so that our common stock continues to trade on Nasdaq. Our common stock has closed below the $1.00 minimum price each day from February 28, 2025 through the date of filing this proxy statement. Because our common stock traded below $1.00 for 30 consecutive business days, we received a delisting notice from Nasdaq on April 14, 2025, stating that we are