Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 117

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 117
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FundedWarrants are fully exercised. The exercise price of the Pre -FundedWarrants is subject to adjustment for stock dividends, stock splits, recapitalizations and the like. A holder (together with its affiliates) may not exercise any portion of a Pre -FundedWarrant to the extent that the holder would own more than 4.99% of our outstanding common stock immediately after exercise (the “Beneficial Ownership Limitation”), except that upon at least 61 days’ prior notice from the holder to us, the holder may increase the amount of ownership of outstanding stock after exercising the holder’s Pre -FundedWarrants up to 19.99% of the number of shares of common stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Pre -FundedWarrants. As a result of the approval of the offering of Pre -FundedWarrants by our stockholders on September18, 2025, a holder of Pre -FundedWarrants may request the permanent suspension of the Beneficial Ownership Limitation from such holder’s Pre -FundedWarrants. We received net cash proceeds (inclusive of proceeds paid in USDC) of $95.0 million from the offering of Pre -FundedWarrants and used (i) approximately $80.0 million of such net proceeds to purchase $IP tokens from Story Foundation at a price per $IP token of $3.40, and (ii) approximately $7.0 million of such net proceeds for the repayment of indebtedness. We used the remaining net proceeds for the payment of outstanding trade payables, working capital and general corporate purposes, and for the establishment of our cryptocurrency treasury operations to the extent consistent with our investment policy as amended or otherwise modified from time to time. In connection with the offering of Pre -FundedWarrants, we paid to Cantor Fitzgerald & Co. and Roth Capital Partners, LLC, as placement agents for the offering, a cash placement agent fee in the aggregate amount of approximately $4.3 million and issued to such placement agents warrants (the “Placement Agent Warrants”) to purchase an aggregate of 4,307,289shares of common stock, initially with an exercise price of $0.01 per share and a five -yearterm. In anticipation of the offering, between June 19, 2025 and August 10, 2025, we entered into advisory and implementation agreements (the “Advisory Agreements”) with