Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 168

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 168
---
 than recorded value See (2) below, and also Negotiated Restructurings and Settlement Agreements and with Outstanding Secured Notes and Unsecured Payables below for additional details; and, (iii)gain on $IP Token investments of: $62,581,599 representing the 20% discount from the closing price of $IP Tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of the Story Core Contributors (as defined in the subscription agreements for the Pre -Funded Warrants); and $14,271,353 representing gain from the August 18, 2025 purchase of $35,271,353 of $IP Tokens for $21,000,000 in cash subsequent to the offering of Pre -Funded Warrants at a price per $IP Token of $3.40 compared to the market price of $5.7106 per $IP Token (as part of the our agreement to use at least $80.0 million of net proceeds of the Offering to purchase $IP Tokens from Story Foundation at a price per $IP Token of $3.40). The balance of the net proceeds will be used to purchase or otherwise acquire $IP Tokens and for the establishment of our cryptocurrency treasury operations to the extent consistent with our investment policy as amended or otherwise modified from time to time. (2)Pro forma balance sheet data presented above includes: (i)$65,132,553 invested by Story Foundation (of which $8,236,834 in $IP Tokens and $56,895,720 was in USDC) to purchase Pre -Funded Warrants; and $158,687,396 from additional investors, including: cash contributions of $35,462,166; $IP Tokens of $71,924,230; and, contributions of $51,301,000 in the cryptocurrency stablecoin commonly referred to as USDC (“USDC”), then net of $5,063,112 in underwriting fees and expenses. See Recent Developments for additional information; (ii)the negotiated settlements with the secured and unsecured creditors of: a) $10,382,438 of our secured note payable (the Silverview Loan) as of June 30, 2025 ($12,620,345 as of August 7, 2025, including settlement fees and expenses of $1,016,688 and accrued interest of $1,221,219) negotiated to be settled for $7,046,094 in cash, $