Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 329

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 329
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 certain advisors and the Company related to the PIPE transaction discussed above; •an amendment to the Company’s Second Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of capital stock from 495,000,000shares to 995,000,000shares; •an amendment to the Company’s Certificate of Incorporation to effect a reverse stock split of the Company’s common stock at a reverse stock split ratio ranging from 1:5 to 1:20, without reducing the authorized number of shares of common stock, and to authorize the Board to determine, at its discretion, the timing of the amendment and the specific ratio of the reverse stock split, without further approval or authorization of the Company’s stockholders; and, •an amendment to the Company’s 2024 Equity Incentive Plan, as amended, to increase the shares available for issuance under the 2024 Plan from 250,000shares to 1,750,000shares. Common stock— On October 31, 2023, the Company’s Board of Directors and shareholders increased the number of shares the Company is authorized to issue from 3,000,000shares to 10,000,000shares, including 9,500,000shares of common stock and 500,000shares of Founders Common Stock, par value of $ 0.0001per share (which Founders Common Stock had fourvotes per share). The key terms of the common stocks are summarized below: Dividends— The holders of common stock and Founders Common Stock are entitled to receive dividends if declared by the Board of Directors. Nodividends have been declared since the inception of the Company. Voting rights— The holders of Founders Common Stock were entitled to fourvotes for each share of Founders Common Stock and general common stockholders were entitled to onevote for each share of general common stock. The designation of Founders Common Stock was terminated upon the completion of the IPO and now all common stock is treated as general common stock, with each share having one vote. Upon approval of the April 2024 increase in authorized shares, the 2022 and 2023 Convertible Notes were exchanged (contingent upon the consummation of the Company’s initial public offering) for 165,607additional shares of common stock and 25,369prepaid warrants; The actual unconditional exchange of the 2022 and 2023 Convertible Notes and reclassification of the aggregate fair value of exchanged notes (