Company: IPST
Filing Date: 2025-09-22
Form Type: 8-K
Source: 0001788230-25-000153
Chunk: 4

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-09-22
Form: 8-K
Item: Item 8.01
Chunk 4
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Item 8.01 Events

As previously reported, on August 15, 2025, the Company sold to certain institutional and accredited investors in a private placement offering (the “ Offering”) pre-funded warrants (the “ Pre-Funded Warrants”) to purchase an aggregate of 370,378,890 shares of Common Stock, at a purchase price of $0.6042 per Pre-Funded Warrant, for an aggregate purchase price of $223.8 million, before deducting placement agent fees and other offering expenses. The Pre-Funded Warrants have an exercise price of $0.0001 per share of Common Stock. Included among the investors in the Offering were Story Foundation, the entity behind the Story Network (“ Story Foundation”), which purchased Pre-Funded Warrants to purchase 107,781,820 shares of Common Stock. On September 18, 2025, following stockholder approval at the Special Meeting of the issuance of Pre-Funded Warrants and shares of Common Stock upon the exercise of Pre-Funded Warrants issued in the Offering, Pre-Funded Warrants to purchase an aggregate of 143,616,678 shares of Common Stock were exercised in accordance with the terms of the Pre-Funded Warrants. None of the Pre-Funded Warrants acquired by Story Foundation were automatically exercised, and shares of Common Stock subject to certain other Pre-Funded Warrants were not automatically exercised due to beneficial ownership limitations included in such Pre-Funded Warrants. In addition, on September 18, 2025, following stockholder approval at the Special Meeting of the issuance of shares of Common Stock to certain advisors to the Company, the Company issued to such advisors an aggregate of 6,477,092 shares of Common Stock. Following the issuances of shares of Common Stock on September 18, 2025 as described in this paragraph, at the close of business on such date, an aggregate of 178,875,972 shares of Common Stock were issued and outstanding.

On September 22, 2025, the Company issued a press release announcing (i) the intent to rebrand “ Heritage Distilling Holding Company, Inc.” as “ IP Strategy”, (ii) a change in the Nasdaq ticker symbol for the Common Stock from “ CASK” to “ IPST” effective at market open on September 22, 2025, and (iii) the results of the voting at the Special Meeting.

The press release is attached hereto as Exhibit 99.1 to this Current Report on Form