Company: IPST
Filing Date: 2025-06-03
Form Type: 8-K
Source: 0001788230-25-000105
Chunk: 2

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-03
Form: 8-K
Item: Item 3.02
Chunk 2
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 anniversary of the date of issuance of such share of Series B Preferred Stock into a number of shares of common stock determined by dividing (a) an amount equal to 110% of the sum of (i) the Series B Stated Value plus (ii) the amount of all accrued and unpaid dividends, by (b) the then-applicable Series B Conversion Price of such share of Series B Preferred Stock.

Redemption. From and after the ninety (90) day anniversary of the purchase of the Series B Preferred Stock, at the option of the Company’s board of directors, the Company may redeem the shares of Series B Preferred Stock at the time outstanding, in whole or in part, out of funds legally available therefore. The redemption price per share for shares of Series

B Preferred Stock redeemed will be an amount equal to 110% of the sum of (i) the Series B Stated Value, plus (ii) the amount of the aggregate dividends then accrued on such share of Series B Preferred Stock and not previously paid. The Company will provide not less than 30 nor more than 60 days prior notice to the holders of any shares of Series B Preferred Stock to be redeemed.

Rights Upon Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of Series B Preferred Stock then outstanding will be entitled to be paid out of assets available for distribution to stockholders, after payment of any liquidation preference payable to the holders of the outstanding shares of the Company’s Series A Convertible Preferred Stock and before any payment will be made to the holders of any other shares of the Company’s capital stock, including the Company’s common stock, by reason of their ownership thereof, an amount per share of Series B Preferred Stock equal to the greater of (i) 110% of the sum of (a) the Series B Stated Value, plus (b) the amount of the aggregate dividends then accrued on such share of Series B Preferred Stock not previously paid, or (ii) such amount per share as would have been payable had all shares of Series B Preferred Stock been converted into common stock immediately prior to such liquidation, dissolution or winding up.

The Warrants

The Warrants issued pursuant to the Purchase Agreements have a term of five years from their date of issuance and are exercisable to purchase an aggregate of 911,225 shares of common stock at an exercise price of $0.01 per share and 327,868 shares of common stock at an exercise price