Company: IPST
Filing Date: 2025-06-04
Form Type: POS AM
Source: 0001641172-25-013501
Chunk: 334

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-04
Form: POS AM
Chunk 334
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 31, 2024, through April 28, 2025: 1,252,559Prepaid Warrants (with an exercise price of $ 0.001each) were exercised cashlessly for 1,250,777shares of common stock; and 700,000prepaid warrants were exchanged for 39,200shares of Series B Preferred Stock, leaving 1,919,433prepaid warrants remaining outstanding. (Subsequent to December 31, 2024, through April 28, 2025, the related party exercised 1,117,559prepaid warrants (with an exercise price of $ 0.001each) cashlessly for 1,115,909shares of common stock, leaving 1,203,783prepaid warrants outstanding.)

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Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements

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

Preferred stock — Series A— In May 2024, the Company’s Board of Directors and Shareholders approved an offering of Series A Convertible Preferred Stock of up to $ 5,000,000, of which $ 4,948,478was issued and outstanding and $ 0remained available for issuance as of December 31, 2024 (as the offering was closed prior to the Company’s November 25, 2024 initial public offering). The shares of Series A Convertible Preferred Stock, par value $ 0.0001per share (the “Series A Preferred Stock”) were sold at a Subscription Price of $ 10per share and have a stated value of $ 12per share (the “Stated Value”), and included stock purchase warrants to purchase shares of common stock calculated at 25% of the subscription price then divided by $ 5.00, with an exercise price equal to the lesser of $ 5.00per share or the price per share at which the common stock is sold in the Company’s initial public offering. (Upon the closing of the Company’s initial public offering on November 25, 2024, the exercise price was set at the initial public offering price of $ 4.00per share.) The warrants expire June 15, 2029. At any time after June 15, 2027, the Warrants shall be automatically exercised on a cashless basis if the common stock has traded for 5consecutive trading days at or above