Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 364

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 364
---
 6.00per share (the “$ 6.00Warrants”). (Including $ 166,667received from the related party, which was exchanged for 18,333shares of Series A Preferred Stock, 8,333related $ 5.00Warrants, and 48,073related $ 6.00Warrants.) Upon the November 25, 2024 initial public offering at $ 4.00per share, the 14,983warrants at $ 5.00per share were recalculated and reissued as 18,728warrants at $ 4.00per share, and the 8,333related party warrants at $ 5.00per share were recalculated and reissued as 10,416warrants at $ 4.00per share.

In September 2024, the $ 6.00Warrants discussed above and in Note 9 (including 321,026$ 6.00Warrants from the related party) were exchanged for 93,789shares of Series A Preferred Stock that did not include any related warrants (including 59,001shares of Series A Preferred Stock that did not include any related warrants for a related party). The value assigned to the $ 6.00Warrants exchanged for Series A preferred Stock that did not include any warrants was negotiated to be $ 937,959(including $ 590,045from a related party), or $ 1.838per $ 6.00Warrant, using a Black-Scholes Valuation model with an estimated IPO stock price of $ 5.00per share and exercise price of $ 6.00per share.

In September 2024, the Company purchased 50barrels of premium aged whiskey from the related party for $ 110,600, or $ 2,212per barrel (comprised of $ 495per barrel and $ 1,717of spirits, for an aggregate total of $ 24,750to fixed assets and $ 85,850to inventory). The $ 110,600was paid by the Company in the form of 11,060shares of Series A Preferred Stock and 5,530related warrants to purchase common stock at the lesser of $ 5.00per share or the price per shares at which the Company’s common stock is sold in the Company’s initial public offering. Upon the November 25, 2024 initial public offering at $ 4.00per