Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 209

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 209
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 (1) | The business address for C/M Capital Master Fund, LP is 1111 
 Brickell Avenue Suite 2920, Miami, Florida 33131.            |

| (2) | C/M Capital Partners, LP manages the investments of C/M Capital                                                                            
 Master Fund, LP and has discretionary authority to vote and dispose of the shares held by C/M Capital Master Fund, LP, and may be deemed   
 to be the beneficial owner of these shares. Thomas Walsh and Jonathan Juchno in their capacity as partners of C/M Capital Partners LP,     
 may also be deemed to have investment discretion and voting power over the shares held by C/M Capital Master Fund LP. C/M Capital Partners 
 LP, Mr. Walsh and Mr. Juchno each disclaim any beneficial ownership of the common shares being offered under the prospectus filed with     
 the SEC in connection with the transactions contemplated under the ELOC Purchase Agreement.                                                |

| (3) | In accordance with Rule 13d-3(d) under the Exchange Act, we                                                                                  
 have excluded from the number of shares beneficially owned prior to the offering all of the shares that the Investor may be required         
 to purchase under the ELOC Purchase Agreement because the issuance of such shares is solely at our discretion and is subject to conditions   
 contained in the ELOC Purchase Agreement, the satisfaction of which are entirely outside of the Investor’s control, including the            
 registration statement that includes this prospectus becoming and remaining effective. Furthermore, the Fixed Purchases, VWAP Purchase,      
 or Additional VWAP Purchase, as applicable, of common stock is subject to certain agreed upon maximum amount limitations set forth in        
 the ELOC Purchase Agreement. Also, the ELOC Purchase Agreement prohibits us from issuing and selling any of our common stock to the Investor 
 to the extent such shares, when aggregated with all other common stock then beneficially owned by the Investor, would cause the Investor’s   
 beneficial ownership of our common stock to exceed the Beneficial Ownership Limitation.                                                      |

| (4) | Applicable percentage ownership is based on 5,423,611 shares 
 outstanding as of January 22, 2025.                          |

| (5) | The registration statement of which this prospectus forms a part is                                                                     
 registering for resale a maximum 5,000,000 ELOC Shares, in addition to the 67,162 Commitment Shares that are issuable upon the exercise 
 of the Commitment Warrant.                                                                                                              |

| (6) | Assumes