Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 116

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 116
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 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.com) in the case of the Story Core Contributors (as defined in the subscription agreements for such offering), (ii) $3.40 (representing an approximately 48% discount from the closing price of $IP Tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of Story Foundation, or (iii) $6.5516 (the reported closing price of $IP Tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of all other purchasers. The Pre -FundedWarrants issued in the offering were originally exercisable to purchase an aggregate of 18,518,921shares of common stock (the “Pre -FundedWarrant Shares”) at an exercise price of $0.002 per share. Of such Pre -FundedWarrants, Pre -FundedWarrants to purchase an aggregate of 7,180,812 Pre -FundedWarrant Shares were exercised on September18, 2025 following receipt of the approval by our stockholders of the issuance of the Pre -FundedWarrants and Pre -FundedWarrant Shares upon exercise thereof. The remaining 11,338,110 Pre -FundedWarrants outstanding are exercisable in cash or by means of a cashless exercise and will not expire until the date the Pre -FundedWarrants are fully exercised. The exercise price of the