Company: IPST
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001641172-25-024420
Chunk: 23

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-15
Form: 424B3
Chunk 23
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 or its Affiliates or Attribution Parties since the date as of which such number of        
 outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation”           
 shall be [4.99%/9.99%] of the number of shares of the Common Stock outstanding immediately       
 after giving effect to the issuance of shares of Common Stock issuable upon exercise of this     
 Warrant. The Holder, upon written notice to the Company, may increase or decrease the Beneficial 
 Ownership Limitation provisions of this Section 3(d), provided that the Beneficial               
 Ownership Limitation in no event exceeds 19.99% of the number of shares of the Common Stock      
 outstanding immediately after giving effect to the issuance of shares of Common Stock upon       
 exercise of this Warrant held by the Holder and the provisions of this Section 3(d)              
 shall continue to apply, provided further that the Holder may suspend the Beneficial Ownership   
 Limitation in its entirety if, and for so long as, such Beneficial Ownership Limitation is       
 not required to be in effect to ensure compliance with applicable Nasdaq listing requirements    
 with respect to stockholder approval. Any increase in the Beneficial Ownership Limitation        
 will not be effective until the 61st day after such notice is delivered to the                   
 Company. The provisions of this paragraph shall be construed and implemented in a manner         
 otherwise than in strict conformity with the terms of this Section 3(d) to correct               
 this paragraph (or any portion hereof) which may be defective or inconsistent with the intended  
 Beneficial Ownership Limitation herein contained or to make changes or supplements necessary     
 or desirable to properly give effect to such limitation. The limitations contained in this       
 paragraph shall apply to a successor holder of this Warrant.                                     |

| -6- |

| (e) | Notwithstanding                                                                               
 anything to the contrary contained in any section herein, the Company agrees to comply with   
 any applicable rules of the Trading Market with respect to the issuance of the Warrant Shares 
 to the Holder and to take any action required by such rules to issue such Warrant Shares.     |

Section 4.Certain Adjustments.

| (a) | Subdivision                                                                                      
 or Combination of Common Stock. During such time as this Warrant is outstanding, if the          
 Company subdivides (by any stock split, stock dividend, recapitalization or otherwise) one       
 or more classes of its outstanding shares of Common Stock into a greater number of shares,       
 the Exercise Price in effect immediately prior to such