Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 347

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 347
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In conjunction with, the closing of the August 15, 2025 PIPE Offering discussed in Note 7, 741,854shares of Series B Preferred Stock that would have been eligible to be converted into shares of common stock were exchanged for: shares of common stock; prepaid warrants with an exercise price of $ per share that are exercisable for common stock at the earlier of (i) when the common stock closes at $ per share or higher during a regular trading day or (ii) on the 3month anniversary of the warrant issuance date; and, prepaid warrants with an exercise price of $ per share that are exercisable for common stock at the earlier of (i) when the common stock closes at $40 per share or higher during a regular trading day or (ii) on the 6month anniversary of the warrant issuance date. (A related party portion thereof being shares of Series B Preferred Stock that would be eligible to be converted into shares of common stock will be exchanged for: shares of common stock; prepaid warrants with an exercise price of $ per share that are exercisable for common stock at the earlier of (i) when the common stock closes at $ per share or higher during a regular trading day or (ii) on the 3month anniversary of the warrant issuance date; and, prepaid warrants with an exercise price of $ per share that are exercisable for common stock at the earlier of (i) when the common stock closes at $ per share or higher during a regular trading day or (ii) on the 6month anniversary of the warrant issuance date.) As of September 30, 2025, shares of Series B Preferred Stock remained outstanding with a stated value of $) and a liquidation preference of $ (or shares of common stock based on the Conversion Price $). Subsequent to September 30, 2025, in October 2025, the shares of Series B Preferred Stock that remained outstanding as of September 30, 2025 were converted into shares of common stock.

Stock options — The Company’s 2018 Equity Incentive Plan was approved by the HDC Board and the HDC shareholders in March 2018. On April 27, 2019, in anticipation of the Company’s reorganization on May 1, 2019, the HDHC Board and the HDHC sole stockholder approved HDHC’s 2019 Equity Incentive Plan (the “2019 Plan”). Upon the closing of the Company’s initial public offering (which occurred on November 25,