Company: IPST
Filing Date: 2025-12-23
Form Type: 424B3
Source: 0001213900-25-125341
Chunk: 12

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-23
Form: 424B3
Chunk 12
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 of the warrant issuance date; and (iii) warrants with an exercise price of $0.20 per share that are exercisable to purchase an aggregate of 402,690shares of common stock at the earlier of (a) the date on which the public market price of our common stock closes at $40.00 per share or higher during a regular trading day or (b) the six -monthanniversary of the warrant issuance date. No shares of Series B Preferred Stock are currently outstanding. The purchasers of our Series B Preferred Stock are included among the Selling Stockholders included in this prospectus and we have registered under the registration statement of which this prospectus forms a part the 44,077 outstanding shares of common stock we issued upon the exchange of shares of Series B Preferred Stock and the 837,474shares of common stock that are issuable upon the exercise of certain outstanding warrants we issued in connection with the exchange of shares of Series B Preferred Stock. Private Placement of Pre -Funded Warrants.On August 15, 2025, we sold in a private placement to institutional and accredited investors pre -fundedwarrants (the “Pre -FundedWarrants”) to purchase an aggregate of 18,518,921shares of common stock at a purchase price of $12.084 per Pre -FundedWarrant, for an aggregate purchase price of $223.8 million, before deducting placement agent fees and other offering expenses. Included among the purchasers in the offering were Story Foundation, which purchased Pre -FundedWarrants to purchase 5.389,091shares of common stock; Justin Stiefel, our Chairman and Chief Executive Officer, who purchased Pre -FundedWarrants to purchase 165,480shares of common stock; and Andrew Varga, a director of our company, who purchased Pre -FundedWarrants to purchase 15,000shares of common stock. Of the total $223.8 million purchase price for the Pre -FundedWarrants, $35.5 million was paid in cash, $59.5 million was paid in the cryptocurrency stablecoin commonly referred to as USDC (“USDC”), based on a purchase price of $1.00 per USDC, and $128.8 million was paid in $IP Tokens, which were valued for purposes of such offering at (i) $5.2413 (representing a 20% discount from the closing price of $IP Tokens on August 8, 2025 as reported by CoinMarketCap