Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 335

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 335
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 on timing and amount, on the use of its currently registered and effective ELOC to raise capital for debt reduction and other corporate purpose related to its business. Series B Preferred Stock— In conjunction with the August 11, 2025 Subscription Agreement discussed above, we entered into exchange agreements with all but one holder 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 $0.01 per 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 stock closes at $1.50 per share or higher during a regular trading day or (b) 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 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. (See also Note 7.) F-44 Heritage Distilling Holding Company, Inc.
Notes to