Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 453

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 453
---
 Stated Value plus (ii) the amount of all accrued dividends, by (b) the then -applicableConversion Price. Any time on or after the 90day anniversary or the original issue date of such shares of Series B Preferred Stock, the Company shall have the right to redeem some or all of the outstanding shares of Series B Preferred Stock from funds legally available therefor, upon at least 30 daysprior written notice to the holders of the Series B Preferred Stock, at a redemption price per share equal to 110%of the sum of the Stated Amount plus all accrued and unpaid dividends on such shares of Series B Preferred Stock. Subsequent to December 31, 2024, as of April 28, 2025, the Company had received subscriptions for $ 2,551,810( 255,181shares) of Series B Preferred Stock (of which $ 250,000was from a related party), including: $ 392,000( 39,200shares at a Conversion Price of $ 0.56per share of common stock) from the exchange of 700,000prepaid warrants at a VWAP of $ 0.56per prepaid warrant; and $ 1,150,000( 115,000shares) from the Investor, of which $ 1,000,000( 100,000shares at a Conversion Price of $ 1.11per share of common stock) was purchased in January 2025 in conjunction with the execution and registration of the ELOC Purchase Agreement. The Series B Preferred Stock has Conversion Prices ranging from $ 0.4736to $ 1.17per share of common stock, and a weighted average Conversion Price of $ 0.741per share of common stock. An additional 119,207warrants were issued with the Series B Preferred Stock with a weighted average exercise price of $ 1.05per warrant and an additional 327,868warrants were issued with an exercise price of $ 0.001per share. (See Note 9.) The Series B Preferred Stock has a liquidation preference equal to the greater of (i) 110% of the sum of (a) the Series B Stated Value, plus (b) the amount of the aggregate dividends then accrued on such share of Series B Preferred Stock and not previously paid, or (ii) such amount per share as would have been payable had all shares of Series B Preferred Stock been converted into common stock immediately prior to such liquid