Company: IPST
Filing Date: 2025-06-10
Form Type: DEF 14A
Source: 0001788230-25-000111
Chunk: 38

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-10
Form: DEF 14A
Chunk 38
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MITMENT SHARES AND FEES

As consideration for its irrevocable commitment to purchase our common stock under the ELOC Purchase Agreement, we issued to the ELOC Investor the Commitment Warrant to purchase up to 67,162 shares of common stock for a purchase price of $0.001 per share. The Commitment Warrant, which had a term of five years and expired on January 22, 2030, was exercised in full by the ELOC Investor on February 20, 2025.

We also agreed to pay to the ELOC Investor up to $15,000 in cash as reimbursement for the reasonable, out-of-pocket expenses incurred by the ELOC Investor, including the legal fees and disbursements of the ELOC Investor’s legal counsel, in connection with its due diligence investigation of our Company and in connection with the preparation, negotiation and execution of the ELOC Purchase Agreement.

TERMINATION OF THE ELOC PURCHASE AGREEMENT

Unless earlier terminated as provided in the ELOC Purchase Agreement, the ELOC Purchase Agreement will terminate automatically on the earliest to occur of:

• the first day of the month next following the 36-month anniversary of the Commencement Date;

• the date on which the ELOC Investor shall have purchased the Commitment Amount;

• the ninetieth day after the date on which, pursuant to or within the meaning of any bankruptcy law, we commence a voluntary case or any person commences a proceeding against us, in each case that is not discharged or dismissed prior to such ninetieth day; and

• the date on which, pursuant to or within the meaning of any bankruptcy law, a custodian is appointed for us or for all or substantially all of our property, or we make a general assignment for the benefit of our creditors.

We have the right to terminate the ELOC Purchase Agreement at any time, at no cost or penalty, upon one business day’s prior written notice to the ELOC Investor, subject to us satisfying all existing obligations related to any shares of common stock issued to the ELOC Investor prior to the date of termination. We and the ELOC Investor may also terminate the ELOC Purchase Agreement at any time by mutual written consent. No termination of the ELOC Purchase Agreement by us or by the ELOC Investor will affect any of

| Heritage Distilling Holding Company, Inc. |     | 25 |     | 2025 Proxy Statement |

Proposal Four

our respective rights and obligations under (i) the ELOC Purchase Agreement with