Company: IPST
Filing Date: 2025-06-04
Form Type: POS AM
Source: 0001641172-25-013501
Chunk: 339

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-04
Form: POS AM
Chunk 339
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 Preferred Stock.

Subsequent to December 31, 2024, as of April 28, 2025, the Company had received subscriptions for $ 2,551,810( 255,181shares) of Series B Preferred Stock (of which $ 250,000was from a related party), including: $ 392,000from the exchange of 700,000prepaid warrants at a VWAP of $ 0.56per prepaid warrant; and $ 1,150,000from the ELOC Investor, of which $ 1,000,000was purchased in January 2025 in conjunction with the execution and registration of the ELOC Purchase Agreement. (See Note 17.)

The Series B Preferred Stock has a liquidation preference equal to the greater of (i) 110% of the sum of (a) the Series B Preferred Stock Stated Value, plus (b) the amount of the aggregate dividends then accrued on such share of Series B Preferred Stock and not previously paid, or (ii) such amount per share as would have been payable had all shares of Series B Preferred Stock been converted into common stock immediately prior to such liquidation, dissolution or winding up. Accordingly, the Series B Preferred Stock liquidation preference as of April 28, 2025 (with 255,181shares outstanding and a stated value of $ 3,062,172) was $ 3,433,497.

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Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements

NOTE 9 — STOCKHOLDERS’ EQUITY / (DEFICIT)(cont.)

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, 2024), the 2024 Equity Incentive Plan (the “2024 Plan”) became effective, authorizing the issuance of up to 2,500,000shares of common stock. As of December 31, 2024, the Company had made nogrants under the 2024 Plan.

The 2024 Plan allows for the grant