Company: IPST
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001641172-25-024420
Chunk: 62

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-15
Form: 424B3
Chunk 62
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 the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

| (A) 
 =   | as                                                                                                                                    
 applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of     
 Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed   
 and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined            
 in Rule 600(b) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) the Bid Price of the Common 
 Stock on the principal Trading Market as reported by Bloomberg L.P. (“Bloomberg”) as of the time of the Holder’s                      
 execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours”                  
 on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular          
 trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of            
 Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant  
 to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;                                                |
| (B) 
 =   | the                                                                                                                                   
 Exercise Price of this Warrant, as adjusted hereunder; and                                                                            |
| (X) 
 =   | the                                                                                                                                   
 number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such    
 exercise were by means of a cash exercise rather than a cashless exercise.                                                            |

| 4 |

If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position contrary to this Section 2(c).

| d) | Mechanics    
 of Exercise. |

| i. | Delivery                                                                                         
 of Warrant Shares Upon Exercise. The Company shall cause the Warrant