Company: IPST
Filing Date: 2025-06-04
Form Type: POS AM
Source: 0001641172-25-013501
Chunk: 239

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-04
Form: POS AM
Chunk 239
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, by and between the Company and the underwriters named therein (the “Representative”), the Company issued 84,377of Representative’s Warrants to the Representative with an initial exercise date on or after May 24, 2025, an exercise price of $ 4.00per share, and an expiration date of November 21, 2029.

Common stock— On October 31, 2023, the Company’s Board of Directors and shareholders increased the number of shares the Company is authorized to issue from 3,000,000shares to 10,000,000shares, including 9,500,000shares of common stock and 500,000shares of Founders Common Stock, par value of $ 0.0001per share (which Founders Common Stock had fourvotes per share). The key terms of the common stocks are summarized below:

Dividends— The holders of common stock and Founders Common Stock are entitled to receive dividends if declared by the Board of Directors. Nodividends have been declared since the inception of the Company.

Voting rights— The holders of Founders Common Stock were entitled to fourvotes for each share of Founders Common Stock and general common stockholders were entitled to onevote for each share of general common stock. The designation of Founders Common Stock was terminated upon the completion of the IPO and now all common stock is treated as general common stock, with each share having onevote.

Upon approval of the April 2024 increase in authorized shares, the 2022 and 2023 Convertible Notes were exchanged (contingent upon the consummation of the Company’s initial public offering) for 3,312,148additional shares of common stock and 507,394prepaid warrants; The actual unconditional exchange of the 2022 and 2023 Convertible Notes and reclassification of the aggregate fair value of exchanged notes (of $ 15,278,168as of November 25, 2024, (the date of the Company’s initial public offering) was reclassified from Convertible Notes to equity (of Common Stock Par Value of $ 382and Paid-in-capital of $ 15,277,786) under the terms of the Subscription Exchange Agreement upon the closing of the Company’s initial public offering — which occurred on November 25, 2024 and was the remaining prerequisite for the unconditional exchange of the 2022 and 2023 Convertible Notes for equity.

Upon approval of the April 2024 increase in