Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 446

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 446
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 until the related party sells the barrels to either the Company or a third party. On November 22, 2024 (prior to the Company’s initial public offering on November 25, 2024), the related party exchanged 250,000shares of common stock for 250,000prepaid warrants to purchase common stock. 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. Related Party Contingent Legacy Shareholder Warrants(See also Note 9) — On October 30, 2024 the Company issued warrants to purchase common stock that became contingently exercisable upon the closing of an initial public offering (which occurred on November 25, 2024), at the price per share of the Company’s initial public offering (or $ 4.00per share) to its common shareholders of record as of May 31, 2023 (the “Contingent Legacy Shareholder Warrants”), that will be exercisable, if at all, provided/contingent upon: the warrant holder continuously holds the shares such holder owned on May 31, 2023 through the date the warrant is exercised; and the common stock attains a specified volume weighted average price per share (“VWAP”) over a 10 -trading-dayperiod (the “10 -Trading-DayVWAP”) before expiring: •Tranche 1 — for up to 762,488shares of common stock (of which up to 128,358were to a related party) when the 10 -Trading-DayVWAP of the common stock reaches 200% of the $ 4.00per share initial public offering price (or $ 8per share), and that will expire on the 24 -monthanniversary of the Company’s initial public offering (the “$ 8Contingent Legacy Shareholder Warrants”); •Tranche 2 — for up to 1,524,976shares of common stock (of which up to 256,716were to a related party) when the 10 -Trading-DayVWAP of the common stock reaches 300% of the $ 4.00per share initial public offering price (or $ 12per share