Company: IPST
Filing Date: 2025-12-23
Form Type: 424B3
Source: 0001213900-25-125341
Chunk: 115

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-23
Form: 424B3
Chunk 115
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 of 18,518,921shares of common stock (the “Pre -FundedWarrant Shares”) at an exercise price of $0.002 per share. Of such Pre -FundedWarrants, Pre -FundedWarrants to purchase an aggregate of 7,180,812 Pre -FundedWarrant Shares were exercised on September18, 2025 following receipt of the approval by our stockholders of the issuance of the Pre -FundedWarrants and Pre -FundedWarrant Shares upon exercise thereof. The remaining 11,338,110 Pre -FundedWarrants outstanding are exercisable in cash or by means of a cashless exercise and will not expire until the date the Pre -FundedWarrants are fully exercised. The exercise price of the Pre -FundedWarrants is subject to adjustment for stock dividends, stock splits, recapitalizations and the like. A holder (together with its affiliates) may not exercise any portion of a Pre -FundedWarrant to the extent that the holder would own more than 4.99% of our outstanding common stock immediately after exercise (the “Beneficial Ownership Limitation”), except that upon at least 61 days’ prior notice from the holder to us, the holder may increase the amount of ownership of outstanding stock after exercising the holder’s Pre -FundedWarrants up to 19.99% of the number of shares of common stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Pre -FundedWarrants. As a result of the approval of the offering of Pre -FundedWarrants by our stockholders on September18, 2025, a holder of Pre -FundedWarrants may request the permanent suspension of the Beneficial Ownership Limitation from such holder’s Pre -FundedWarrants. We received net cash proceeds (inclusive of proceeds paid in USDC) of $95.0 million from the offering of Pre -FundedWarrants and used (i) approximately $80.0 million of such net proceeds to purchase $IP Tokens from Story Foundation at a price per $IP Token of $3.40, and (ii) approximately $7.0 million of such net proceeds for the repayment of indebtedness. We used the remaining net proceeds for the payment of outstanding trade payables, working capital and general corporate purposes, and for the establishment of our cryptocurrency treasury operations to the extent consistent with our investment policy as amended or otherwise modified from