Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 10

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 10
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 collaboration, the tribes will own these businesses and we will receive a royalty on gross sales through licenses we grant to use our brands, products, recipes, programs, IP, new product development, on-going compliance support and the other support we provide. The TBN is expected to form a network of regional locations that will support product trials and sampling, and will generate sales of finished spirits for retail and wholesale distribution. We expect that, as the brands grow and the TBN footprint expands, 3 there will be an important synergy with increased adoption and growth through our wholesale channels in the regions where the TBN locations are driving trial and awareness. Similarly, as demand for our products grows through our wholesale channels, there should be a positive effect on the demand for the products produced by our tribal partners. Recent Developments The Equity Line of Credit.On January 23, 2025, we entered into a Securities Purchase Agreement dated as of January 23, 2025 (the “ELOC Purchase Agreement”) between our company and C/M Capital Master Fund LP, a Delaware limited partnership (the “ELOC Investor”) establishing a committed equity facility (the “Facility” or “Equity Line of Credit”). Pursuant to and subject to the conditions set forth in the ELOC Purchase Agreement, we have the right from time to time at our option to direct the ELOC Investor to purchase shares of our common stock (the “ELOC Shares”) up to the lesser of (i) a maximum aggregate purchase price of $15,000,000 (the “Maximum Commitment Amount”), and (ii) the Exchange Cap (as defined in the ELOC Purchase Agreement), subject to certain limitations and conditions set forth in the ELOC Purchase Agreement. Sales of the ELOC Shares to the ELOC Investor under the ELOC Purchase Agreement, and the timing of any sales, will be determined by us from time to time in our sole discretion and will depend on a variety of factors, including, among others, market conditions, the trading price of our shares and determinations by us regarding the use of proceeds from any sale of such ELOC Shares. The net proceeds from any sales under the Facility will depend on the frequency with, and prices at, which the ELOC Shares are sold to the ELOC Investor. Pursuant to the ELOC Purchase Agreement, we sold to the ELOC Investor for an aggregate purchase price of $1,000,000 an aggregate of 100,000shares of our Series B Preferred Stock, of which 50,000