Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 359

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 359
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 aggregate purchase price of $ 223.8million, before deducting placement agent fees and other offering expenses (the “PIPE”). Of the total $ 223.8million purchase price for the Pre -FundedWarrants, $ 35.5million was paid in cash, $ 59.5million was paid in the cryptocurrency stablecoin commonly referred to as USDC (“USDC”), based on a purchase price of $ 1.00per USDC, and $ 128.8million was paid in $IP tokens, which were valued for purposes of such offering at (i) $ 5.2413(representing a 20% discount from the closing price of $IP tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of the Story Core Contributors (as defined in the subscription agreements for the offering), (ii) $ 3.40(representing an approximately 48% discount from the closing price of $IP tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of Story Foundation, or (iii) $ 6.5516(the reported closing price of $IP tokens on August 8, 2025 as reported by CoinMarketCap.com) in the case of all other purchasers. No gain was recognized on the purchase of these $IP Tokens, due to restrictions on transfer and lock -upagreements covering such $IP Tokens, which provides that cost basis accounting be used rather than fair value accounting. A gain of $ 66,039,843was recorded to paid in capital in conjunction with the PIPE.

F-43 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 14 — SUBSEQUENT EVENTS (cont.) The $IP Tokens acquired in conjunction with the PIPE are subject to restrictions on transfer and lock -upagreements for 12 to 60months. In connection with the closing of the offering of Pre -FundedWarrants, the Company entered into exchange agreements with all but two holders of our Series B Preferred Stock. See Series B Preferred Stock below. Included among the purchasers in the Offering were Story Foundation, who purchased Pre -FundedWarrants to purchase 107,781,820shares of Common Stock; Justin Stiefel, Chairman and Chief Executive Officer of the Company, who purchased Pre -FundedWarrants to purchase 3,309,615shares of Common Stock; and Andrew Varga,