Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 120

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 120
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 following the date of issuance into a number of shares of common stock determined by dividing (a) an amount equal to 110% of the sum of (i) the stated value plus (ii) the amount of all accrued and unpaid dividends, by (b) the then -applicableconversion price. The Series B Preferred Stock was also mandatorily convertible on such basis on the third anniversary of the initial date of issuance of the Series B Preferred Stock. From July to October3, 2025, two investors converted an aggregate of 126,981shares of Series B Preferred Stock into 191,138 shares of common stock. As discussed below, in connection with the closing of our offering of our Pre -FundedWarrants, we exchanged an aggregate of 629,873shares of Series B Preferred Stock for 44,742 shares of common stock and warrants to purchase an aggregate of 850,124 shares of common stock. As of the date hereof, no shares of Series B Preferred Stock are outstanding. 67 In connection with the closing of our offering of Pre -FundedWarrants, we entered into exchange agreements with all but two holders of our Series B Preferred Stock pursuant to which we exchanged 629,873shares of Series B Preferred Stock that were convertible into 894,866 shares of common stock for (i) 44,739 shares of common stock; (ii) warrants with an exercise price of $0.20 per share that are exercisable to purchase an aggregate of 447,433 shares of common stock at the earlier of (a) the date on which the public market price of our common stock closes at $30.00 per share or higher during a regular trading day or (b) on the three -monthanniversary of the warrant issuance date; and (iii) warrants with an exercise price of $0.20 per share that are exercisable to purchase an aggregate of 402,690 shares of common stock at the earlier of (a) the date on which the public market price of our common stock closes at $40.00 per share or higher during a regular trading day or (b) on the six -monthanniversary of the warrant issuance date. The former holders of our Series B Preferred Stock who exchanged such shares for shares of common stock and warrants are included among the Selling Stockholders included in this prospectus and we have registered an aggregate of 881,467 shares of common stock under the registration statement of which this prospectus forms a part for sale by such security holders