Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 421

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 421
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,789shares of Series A Preferred Stock that did not include any related warrants (including 59,001shares of Series A Preferred Stock that did not include any related warrants for a related party). The value assigned to the $ 120Warrants exchanged for Series A Preferred Stock that did not include any warrants was negotiated to be $ 937,959(including $ 590,045from a related party), or $ 1.838per $ 120Warrant using a Black -ScholesValuation model with a then estimated IPO stock price of $ 100per share and exercise price of $ 120per share. The Company allocated the net proceeds between the warrants and the Series A Preferred Stock using the relative fair value method. In connection with the $ 4,948,478of Series A Preferred Stock, the Company also issued 197,013warrants to purchase common stock at the lesser of $ 100per share or the price per share at which the common stock is sold in the Company’s initial public offering (of which 60,563of the $ 100Warrants were issued to a related party). Upon the November 25, 2024 initial public offering at $ 80.00per share, the 197,013warrants at $ 100per share were recalculated and reissued as 246,267warrants at $ 80.00per share (and the 60,563related party warrants at $ 100per share were recalculated and reissued as 75,705warrants at $ 80.00per share). The Series A Preferred Stock has a liquidation preference equal to the greater of (i) 110% of the sum of (a) the Series A Preferred Stock Stated Value, plus (b) the amount of the aggregate dividends then accrued on such share of Series A Preferred Stock and not previously paid, or (ii) such amount per share as would have been payable had all shares of Series A Preferred Stock been converted into common stock immediately prior to such liquidation, dissolution or winding up. Accordingly, the Series A Preferred Stock liquidation preference as of December 31, 2024 (with 494,840shares outstanding and a stated value of $ 5,938,080) was $ 6,943,830. Preferred stock — Series B— Subsequent to December 31, 2024, by written consent dated January 23, 2025 (pursuant to authority conferred upon the Board of Directors by