Company: IPST
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001788230-25-000126
Chunk: 65

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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31, 20243,871,992382,205 Exercise of Warrants in Exchange for Common Stock(3,071,992)(112,144)Exercise of Warrants in Exchange for Series B Preferred Stock(1,027,868)— Warrants Issued with Series B Preferred Stock327,868 — Balance June 30, 2025100,000 270,061 Upon the closing of the Company's initial public offering on November 25, 2024, the conditional issuances of prepaid warrants and common stock noted in the table above became effective. In addition to the prepaid warrants and common warrants in the table above: 119,207 warrants to purchase common stock at $0.01 per share were issued in connection with the initial aggregate $250,000 of non-ELOC Investor Series B Preferred Stock subscriptions (see Preferred Stock - Series B below).In the six months ended June 30, 2025, 3,071,992 prepaid warrants (with an exercise price of $0.001 each) were exercised cashlessly for 3,066,776 shares of common stock (including related party cashlessly exercised 2,321,342 prepaid warrants for 2,317,452 shares of common stock) leaving 100,000 prepaid warrants remaining outstanding. In addition, 1,027,868 prepaid warrants (with an exercise price of $0.001 each) were exercised cashlessly for 55,917 shares of Series B Preferred StockSubsequent to June 30, 2025, 270,061 common warrants were exercised (including 251,265 by a related party) leaving 0 common warrants outstanding (including 0 common warrants outstanding of the related party).Preferred stock — Series A — In May 2024 through September 2024, the Company sold $4,948,478 of Series A Convertible Preferred Stock The shares of Series A Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”) had a subscription price of $10 per share and a stated value of $12 per share (the “Stated Value”), and included stock purchase warrants to purchase shares of common stock calculated at 25% of the subscription price then divided by $5.00, with an exercise price equal to the lesser of $5.00 per share or the price per share at which the common stock is sold in the Company’s initial public offering. (Upon the closing of the Company's initial public