Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 341

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 341
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 determined by dividing (a) an amount equal to 110% of the sum of (i) the Series B Stated Value plus (ii) the amount of all accrued dividends, by (b) the then -applicableConversion Price. Any time on or after the 90day anniversary or the original issue date of such shares of Series B Preferred Stock, the Company shall have the right to redeem some or all of the outstanding shares of Series B Preferred Stock from funds legally available therefor, upon at least 30 daysprior written notice to the holders of the Series B Preferred Stock, at a redemption price per share equal to 110%of the sum of the Stated Amount plus all accrued and unpaid dividends on such shares of Series B Preferred Stock. In connection with the initial aggregate $ 250,000of non -ELOCInvestor Series B Preferred Stock subscriptions (of which $ 125,000was with a related party), the Company also issued 5,960warrants to purchase common stock at $ 0.20per share (of which 2,670of the warrants were to a related party). In consideration of purchases of Series B Preferred Stock by certain Series A Preferred Stock holders, on May 1, 2025, certain shareholders agreed to exchange an aggregate of 284,140shares of Series A Preferred Stock at a negotiated aggregate value of $ 4,092,560of Series A Preferred Stock (at Stated Value of $ 12per share and including accrued dividends) and 5,813related warrants to purchase common stock at $ 80per share into 409,256shares of Series B Preferred Stock (including $ 2,640,430or 183,122shares of Series A Preferred Stock and 3,785warrants to purchase common stock at $ 80per share converted into 264,043shares of Series B Preferred Stock of a related party). The value of Series A Preferred Stock and related warrants exchanged for Series B Preferred Stock was negotiated based upon: the related Stated Value of the Series A Preferred Stock (or 284,140shares at $ 12Stated Value = $ 3,409,680) and accrued dividends thereon (of $ 343,392) through May 1, 2025; plus the value of the related warrants to purchase common stock (calculated using a Black Scholes valuation model). Subsequent to the exchange, there were outstanding: 659,437shares of Series B Preferred Stock; 210,700