Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 332

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 332
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 certain Series A Preferred Stock holders, on May 1, 2025, certain shareholders agreed to exchange an aggregate of 284,140shares of Series A Preferred Stock at a negotiated aggregate value of $ 4,092,567of Series A Preferred Stock (at Stated Value of $ 12per share and including accrued dividends) and 116,263related warrants to purchase common stock at $ 4.00per share into 409,256shares of Series B Preferred Stock (including $ 2,640,430or 183,122shares of Series A Preferred Stock and 75,702warrants to purchase common stock at $ 4.00per share converted into 264,043shares of Series B Preferred Stock of a related party). The value of Series A Preferred Stock and related warrants exchanged for Series B Preferred Stock was negotiated based upon: the related Stated Value of the Series A Preferred Stock (or 284,140shares at $ 12Stated Value = $ 3,409,680) and accrued dividends thereon (of $ 343,392) through May 1, 2025; plus the value of the related warrants to purchase common stock (calculated using a Black Scholes valuation model). Subsequent to the exchange, there were outstanding: 659,437shares of Series B Preferred Stock; 210,700shares of Series A Preferred Stock; and, 129,998warrants to purchase common stock at $ 4.00per share related to the Series A Preferred Stock, As of June 30, 2025, the Company had received subscriptions for $ 7,443,557( 744,354shares) of Series B Preferred Stock (of which $ 2,995,437was from a related party) which included: $ 4,092,567or 409,256shares from the exchange of Series A Preferred Stock and related warrants at a negotiated aggregate value (of which $ 2,640,437or 264,043shares was from a related party); $ 392,000or 39,200shares was from the exchange of 700,000prepaid warrants at a VWAP of $ 0.56per prepaid warrant; $ 167,180or 16,717shares was from the exchange of 327,868prepaid warrants at a VWAP of $ 0.510per prepaid warrant; $ 1,150,000or 115,000shares was from the ELOC Investor,