Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 166

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 166
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0.01 per share that are exercisable to purchase an aggregate of 8,053,804shares of common stock at the earlier of (a) the date on which our common stock closes at $2.00 per share or higher during a regular trading day or (b) on the six -monthanniversary of the warrant issuance date. Of the shares of Series B Preferred Stock that was exchanged for common stock and warrants, 299,543shares of Series B Preferred Stock that were convertible into 8,635,864shares of common stock were exchanged by a related party for (i) 431,791shares of common stock; (ii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 4,317,934shares of common stock at the earlier of (i) the date on which our common stock closes at $1.50 per share or higher during a regular trading day or (ii) on the three -monthanniversary of the warrant issuance date; and (iii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 3,886,139shares of common stock at the earlier of (i) the date on which our common stock closes at $2.00 per share or higher during a regular trading day or (ii) on the six -monthanniversary of the warrant issuance date. The exchange of Series B Preferred Stock for common stock and warrants is included in the pro forma balance sheet data below, with no net impact to total stockholders’ equity/(deficit) as the aggregate par value and additional paid in capital related to the Series B Preferred Stock is reclassified to a same aggregate amount of par value and additional paid in capital related to the common stock and warrants. In conjunction with the sale of our Pre -FundedWarrants, in July 2025, we negotiated terms with a number of our secured and unsecured creditors, whereby, contingent and effective only upon the occurrence of the closing of a financing transaction with third -partyprivate investors in excess of $75 million dollars and involving a tradable cryptocurrency, token or other similar digital asset (the “Trigger Date”) that we will pay agreed upon cash amounts due to the respective obligees, as agreed, in cash and or equity, in settlement of amounts owed to such obligees. The result of the negotiated settlements with the secured and unsecured creditors was: $10,382,438 of our secured notes payable as