Company: IPST
Filing Date: 2025-05-30
Form Type: PRE 14A
Source: 0001788230-25-000100
Chunk: 41

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-30
Form: PRE 14A
Chunk 41
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 those sales, if any. As of the Record Date, there were 12,050,386 shares of common stock outstanding. Assuming the sale of all shares of our common stock under the ELOC Purchase Agreement at the minimum price of $1.00 per share, if all of the 15,000,000 shares of our common stock of

| 2025 Proxy Statement |     | 26 |     | HERITAGE DISTILLING HOLDING COMPANY, INC. |

Proposal Four

which 1,187,453 shares have already been sold since the consummation of the ELOC Purchase Agreement leaving 13,812,547 shares remaining, that may be sold to the ELOC Investor pursuant to the ELOC Purchase Agreement were issued and outstanding as of the Record Date, such shares would represent approximately 53.4% of total number of shares of our common stock outstanding. The actual number of shares of our common stock issuable will vary depending on the then current market price of shares of our common stock sold to the ELOC Investor pursuant to the ELOC Purchase Agreement.

The issuance of our shares of common stock to the ELOC Investor pursuant to the ELOC Purchase Agreement will not affect the rights or privileges of our existing stockholders, except that the economic and voting interests of each of our existing stockholders will be diluted. Although the number of shares of common stock that our existing stockholders own will not decrease, the shares of common stock owned by our existing stockholders will represent a smaller percentage of our total outstanding shares of common stock after any such issuance.

The following table sets forth the amount of gross proceeds we may receive from the Investor from our sale of ELOC Shares that we may issue and sell to the Investor from time to time under the ELOC Purchase Agreement, assuming that all such ELOC Shares are sold at varying purchase prices designated below, assuming all such shares are issued for only nominal consideration:

| Assumed Purchase PricePer Share(1) |     |       |     |   Total Number 
 of ELOC Shares 
   to be Issued |     | Percentage of Outstanding Common Stock After Giving Effect  to the Issuance of the ELOC Shares to the ELOC Investor(2) |     | Proceeds to us from the 
 Sale of the ELOC Shares 
    to the ELOC Investor |
| $1.00                              |     |       |     |     15,000,000 |     | 58.00%                                                                                                                 |     |             $15,000