Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 226

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 226
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 to indemnify and relieve them jointly
and severally from all liabilities that they undertook in the past or will undertake in the future as individuals to underwrite operations
of the business. Examples of this include personal guarantees on real estate leases, vehicle leases, company credit cards, revolving accounts,
vendor accounts, federal bonds, and tax payment agreements.

To the best of our knowledge, during the past two
fiscal years, other than as set forth above, there were no material transactions, or series of similar transactions, or any currently
proposed transactions, or series of similar transactions, to which we were or are to be a party, in which the amount involved exceeds
the lesser of (A) $120,000 or (B) one percent of our average total assets at year-end for the last two completed fiscal years,
and in which any director or executive officer, or any security holder who is known by us to own of record or beneficially more than 5%
of any class of our common stock, or any member of the immediate family of any of the foregoing persons, has an interest (other than compensation
to our officers and directors in the ordinary course of business).

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Anti-Takeover Effects of Certain Provisions of Our Certificate of Incorporation and Bylaws

The provisions of our amended and restated certificate
of incorporation and our amended and restated bylaws could make it more difficult to acquire us by means of a merger, tender offer, proxy
contest, open market purchases, removal of incumbent directors and otherwise. These provisions, which are summarized below, are expected
to discourage types of coercive takeover practices and inadequate takeover bids and to encourage persons seeking to acquire control of
us to first negotiate with us. We believe that the benefits of increased protection of our potential ability to negotiate with the proponent
of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging takeover or acquisition
proposals because negotiation of these proposals could result in an improvement of their terms.

Calling of Special Meetings of Stockholders.Our
bylaws provide that special meetings of the stockholders may be called only by the board of directors pursuant to a resolution adopted
by the majority of the board of directors.

Supermajority Vote of Stockholders. Our
certificate of incorporation require the affirmative vote of the holders of at least two-thirds of the voting power of all of our outstanding
shares of voting stock, voting together as a single class, to