Company: IPST
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001641172-25-024441
Chunk: 55

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-15
Form: 424B3
Chunk 55
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 issued warrants with an expiration date of April 1, 2028 to purchase 884,159 shares of common stock with an exercise price of $4.00 per share to common shareholders of record who acquired their common stock through the exchange of Whiskey Notes and whose shares were subject to 100% lockup for 6 months post-IPO, as was disclosed as a pending item in the Company’s February 4, 2025 prospectus filed with the commission (the “Whiskey Note Shareholder Warrants”). The Whiskey Note Shareholder Warrants will be exercisable if the warrant holder continuously holds all shares of common stock such holder owned on the date of the Company’s IPO through the date the warrant is exercised, and then only if the common stock attains a specified volume weighted average price of $8.00 per share (“VWAP”) over a 10-trading-day period (the “10-Trading-Day VWAP”) before expiring. The Company recorded the fair value of the Whiskey Note Shareholder Warrants of $152.90 in the three months ended June 30, 2025 based on a Black Scholes option pricing model and Monte Carlo simulation analysis.

Other equity classified warrants— During the three months ended June 30, 2025 and 2024, respectively, the Company issued a total of 1,617,351 and 183,000 warrants, including: 733,192 and 0 warrants to purchase common stock at $0.01 per share issued in connection with the issuance of Series B Preferred Stock (of which, 49,019 and 0 were to a related party); and 884,159 and 0 Whiskey Note Shareholder Warrants to purchase common stock at $4.00 per share (of which 0 and 0 were to a related party). During the six months ended June 30, 2025 and 2024, respectively, the Company issued a total of 1,803,720 and 91,500 warrants, including: 852,399 and 0 warrants to purchase common stock at $0.01 per share issued in connection with the issuance of Series B Preferred Stock (of which, 102,437 and 0 were to a related party); 884,159 and 0 Whiskey Note Shareholder Warrants to purchase common stock at $4.00 per share; and, 67,162 and 0 Commitment Warrants to purchase common stock at $0.001 per