Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 101

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 101
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ii) the VWAP for the applicable Additional VWAP Purchase Period (as defined in the Purchase Agreement). Notwithstanding the above, in no event may the aggregate amount of ELOC Shares submitted in any single or combination of VWAP Purchase notices and/or Additional VWAP Purchase notices on a particular date require a payment from the Investor to us that exceeds $2,500,000, unless such limitation is waived by the Investor. For purposes of the Purchase Agreement, “VWAP” shall mean the daily volume weighted average price of the common stock on Nasdaq as reported by Bloomberg through its “AQR” function. All such determinations shall be appropriately adjusted for any sales of shares of common stock through block transactions, any reorganization, non-cash dividend, stock split, reverse stock split, stock combination, recapitalization or other similar transaction during such period. Commitment Shares and Fees As consideration for its irrevocable commitment to purchase our common stock under the ELOC Purchase Agreement, we have issued to the Investor the Commitment Warrant to purchase up to 67,162 shares of common stock for a purchase price of $0.001 per share. The Commitment Warrant has a term of five years and expires on January 22, 2030. We have also agreed to pay to the Investor up to $15,000 in cash as reimbursement for the reasonable, out-of-pocket expenses incurred by the Investor, including the legal fees and disbursements of the Investor’s legal counsel, in connection with its due diligence investigation of our company and in connection with the preparation, negotiation and execution of the ELOC Purchase Agreement. 61 Conditions Precedent to Commencement Our right to commence delivering Purchase Notices under the ELOC Purchase Agreement and the Investor’s obligation to accept such Purchase Notices, are subject to the initial satisfaction, at the Commencement Date, of the conditions precedent thereto set forth in the ELOC Purchase Agreement, which conditions include, among others, the following:

| ● | the                                                                                          
 accuracy in all material respects of our representations and warranties included in the ELOC 
 Purchase Agreement;                                                                          |

| ● | our                                                                                              
 having performed, satisfied and complied in all material respects with all covenants, agreements 
 and conditions required by the ELOC Purchase Agreement and the Registration Rights Agreement     
 to be performed, satisfied or complied with by us;                                               |

| ● | the                                                                                          
 absence of any material misstatement or omission in the registration statement that includes 
 this prospectus;                                                                             |

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