Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 309

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 309
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 $10,405,553. Subsequent to June 30, 2025, 56,462shares of Series B Preferred Stock converted into 1,521,175shares of common stock. In conjunction with, and contingent upon, the August 11, 2025 Subscription Agreement discussed in Note 14, we entered into exchange agreements with all but one holder of our Series B Preferred Stock pursuant to which we exchanged 629,873shares of Series B Preferred Stock that were convertible into 17,897,336shares of common stock for (i) 894,856shares of common stock; (ii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 8,948,676shares of common stock at the earlier of (a) the date on which our common stock closes at $1.50 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 $0.01 per share that are exercisable to purchase an aggregate of 8,053,804shares of common stock at the earlier of (a) the date on which our common stock closes at $2.00 per share or higher during a regular trading day or (b) on the six -monthanniversary of the warrant issuance date. Of the shares of Series B Preferred Stock that was exchanged for common stock and warrants, 299,543shares of Series B Preferred Stock that were convertible into 8,635,864shares of common stock were exchanged by a related party for (i) 431,791shares of common stock; (ii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 4,317,934shares of common stock at the earlier of (i) the date on which our common stock closes at $1.50 per share or higher during a regular trading day or (ii) on the three -monthanniversary of the warrant issuance date; and (iii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 3,886,139shares of common stock at the earlier of (i) the date on which our common stock closes at $2.00 per share or higher during a regular trading day or (ii) on the six -monthanniversary of the warrant issuance date. (See Note 14.) F