Company: IPST
Filing Date: 2025-12-23
Form Type: 424B3
Source: 0001213900-25-125341
Chunk: 431

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-23
Form: 424B3
Chunk 431
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2023 (the “Contingent Legacy Shareholder Warrants”), that will be exercisable, if at all, provided/contingent upon: if the warrant holder continuously holds the shares such holder owned on May 31, 2023 through the date the warrant is exercised; and if the common stock attains a specified volume weighted average price per share (“VWAP”) over a 10 - trading-dayperiod (the “10 - Trading-DayVWAP”) before expiring: •Tranche 1 — for up to 38,124shares of common stock (of which up to 6,417 were to a related party) when the 10 - Trading-DayVWAP of the common stock reaches 200% of the $80.00 per share initial public offering price (or $160 per share), and that will expire on the 24 -monthanniversary of the Company’s initial public offering (the “$160 Contingent Legacy Shareholder Warrants”); •Tranche 2 — for up to 76,248shares of common stock (of which up to 12,835 were to a related party) when the 10 - Trading-DayVWAP of the common stock reaches 300% of the $80.00 per share initial public offering price (or $240 per share), and that will expire on the 42 -monthanniversary of the Company’s initial public offering (the “$240 Contingent Legacy Shareholder Warrants”); and, •Tranche 3 — for up to 95,311shares of common stock (of which up to 16,044 were to a related party) when the 10 - Trading-DayVWAP of the common stock reaches 500% of the $80.00 per share initial public offering price (or $400 per share), and that will expire on the 60 -monthanniversary of the Company’s initial public offering (the “$400 Contingent Legacy Shareholder Warrants”).

F-93

Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements NOTE 9 — STOCKHOLDERS’ EQUITY / (DEFICIT) (cont.) The Company recorded a value of $8,828 for the Contingent Legacy Shareholder Warrants as of the October 30, 2024 grant date based on a Black Scholes option pricing model. The assumptions used in the Black -Scholesoption pricing model for the Contingent