Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 223

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 223
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 the Series B Stated Value plus (ii) the amount of all accrued and
unpaid dividends, by (b) the then-applicable Series B Conversion Price of such share of Series B Preferred Stock.

Redemption. From and after the ninety (90)
day anniversary of the purchase of the Series B Preferred Stock, at the option of our board of directors, we may redeem the shares of
Series B Preferred Stock at the time outstanding, in whole or in part, out of funds legally available, therefore. The redemption price
per share for shares of Series B Preferred Stock redeemed will be an amount equal to 110% of the sum of (i) the Series B Stated Value,
plus (ii) the amount of the aggregate dividends then accrued on such share of Series B Preferred Stock and not previously paid. We will
provide not less than 30 nor more than 60 days prior notice to the holders of any shares of Series B Preferred Stock to be redeemed.

Rights Upon Liquidation. In the event of
any voluntary or involuntary liquidation, dissolution or winding up of our company, the holders of shares of Series B Preferred Stock
then outstanding will be entitled to be paid out of our assets available for distribution to stockholders, after payment of any liquidation
preference payable to the holders of the outstanding shares of our Series A Preferred Stock and before any payment will be made to the
holders of any other shares of our capital stock, including our common stock, by reason of their ownership thereof, an amount per share
of Series B Preferred Stock equal to the greater of (i) 110% of the sum of (a) the Series B 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.

Outstanding Warrants

As of January 22, 2025, the following warrants
are outstanding:

| ● | Warrants                                                                                     
 to purchase up to 1,098,430 shares of common stock for a purchase price of $0.001 per share. 
 Such warrants are exercisable by a holder at any time unless such exercise would cause the   
 holder to beneficially own more than 4.99% of our outstanding shares of common stock and     
 have no expiration date;                                                                     |

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