Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 114

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 114
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 Chief Executive Officer, who purchased Pre -FundedWarrants to purchase 3,309,615shares of Common Stock; and Andrew Varga, a director of our company, who purchased Pre -FundedWarrants to purchase 300,000shares of Common Stock. Of the total $223.8 million purchase price for the Pre -FundedWarrants, $35.5 million was paid in cash, $59.5 million was paid in the cryptocurrency stablecoin commonly referred to as USDC (“USDC”), based on a purchase price of $1.00 per USDC, and $128.8 million was paid in $IP tokens, which were valued for purposes of such offering at (i) $5.2413 (representing a 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 such offering), (ii) $3.40 (representing an approximately 48% discount from the closing price of $IP tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of Story Foundation, or (iii) $6.5516 (the reported closing price of $IP tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of all other purchasers. The Pre -FundedWarrants issued in the offering are exercisable to purchase an aggregate of 370,378,890shares of common stock (the “Pre -FundedWarrant Shares”) at an exercise price of $0.0001 per share. The Pre -FundedWarrants will be 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