Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 333

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 333
---
 of which $ 499,991was purchased in January 2025 in conjunction with the execution and registration of the ELOC Purchase Agreement; and $ 1,641,810or 164,181shares was from other investors (of which $ 355,000or 35,500shares was from a related party, of which, one other investor subscription of $ 100,000or 10,000shares included a negotiated 327,868prepaid warrants to purchase common stock at $ 0.001per share). The Series B Preferred Stock has a liquidation preference equal to the greater of (i) 110% of the sum of (a) the Series B Preferred Stock Stated Value, plus (b) the amount of the aggregate dividends then accrued on such share of Series B Preferred Stock and not previously paid, or (ii) such amount per share as would have been payable had all shares of Series B Preferred Stock been converted into common stock immediately prior to such liquidation, dissolution or winding up. Accordingly, the Series B Preferred Stock liquidation preference as of June 30, 2025 (with 744,354shares outstanding and a stated value of $ 8,932,248) was $ 10,072,005, or 20,737,012. shares of common stock based on the respective Conversion Prices with a high of $ 1.12, a low of $ 0.4736, and a weighted average of $ 0.49. Subsequent to June 30, 2025, the Series B Preferred liquidation preference (with 756,854shares outstanding and a stated value of $ 9,082,248) was $ 10,405,553. Subsequent to June 30, 2025, 56,462shares of Series B Preferred Stock converted into 1,521,175shares of common stock. In conjunction with the August 15, 2025 Offering discussed in Note 14, we entered into exchange agreements with all but two holders of our Series B Preferred Stock pursuant to which we exchanged 629,873shares of Series B Preferred Stock that were convertible into 17,897,336shares of common stock for (i) 894,856shares of common stock; (ii) warrants with an exercise price of $ 0.01per share that are exercisable to purchase an aggregate of 8,948,676shares of common stock at the earlier of (a) the date on which our common