Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 281

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 281
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 sold a total of 1,687,500shares of common stock, at an offer price of $ 4.00per share. The Company received net proceeds from the IPO of $ 5,960,000after deducting underwriting discounts and commission of $ 790,000. Concurrent with the closing of the IPO on November 25, 2024, the Company consummated a private offering to certain of its existing security holders, of common stock warrants to purchase an aggregate of up to 382,205shares of common stock (the “Common Warrants”) at an exercise price of $ 0.01per share. The Common Warrants were sold in such private placement for a purchase price of $ 3.99per Common Warrant, which was equal to the $ 4.00price per share at which the common stock was sold in the IPO offering less the $ 0.01exercise price. The Company received net proceeds from the private offering of Common Warrants of $ 1,397,998after deducting underwriting discounts and commission of $ 127,000. The Common Warrants are immediately exercisable and will expire five years from the date of issuance. Subject to limited exceptions, a holder of Common Warrants will not have the right to exercise any portion of its Common Warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or, at the election of the holder, 9.99%) of the number of shares of common stock outstanding immediately after giving effect to such exercise. The Company offered the Common Warrants to enable certain existing securityholders of the Company that were expected to participate in the offering to maintain their percentage ownership interest in the Company without violating the purchaser concentration rules of Nasdaq applicable to initial public offerings of common stock. The Common Warrants and the shares of common stock issuable upon exercise of such warrants were not registered under the Securities Act of 1933, as amended (the “Securities Act”), and were offered pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended provided in Section 4(a)(2) of the Securities Act and Rule 506(b) promulgated thereunder. F-39 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 16 — SUBSEQUENT EVENTS (cont.)

Concurrent with the closing of the IPO on November
25, 2024, any conting