Company: IPST
Filing Date: 2025-06-04
Form Type: POS AM
Source: 0001641172-25-013501
Chunk: 251

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-04
Form: POS AM
Chunk 251
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 share (of which 53,418of the warrants were to a related party).

As of March 31, 2025, the Company had received subscriptions for $ 1,679,810( 67,162shares) of Series B Preferred Stock, of which: $ 250,000was from a related party); and $ 1,150,000was from the ELOC Investor, of which $ 1,000,000was purchased in January 2025 in conjunction with the execution and registration of the ELOC Purchase Agreement.

Subsequent to March 31, 2025, the Company received subscriptions for an additional $ 4,914,567( 491,456shares) of Series B Preferred Stock, of which: $ 4,092,567or 409,256shares was from the exchange of Series A Preferred Stock and related warrants for Series B Preferred Stock (of which $ 2,640,437or 264,043shares was from a related party; $ 392,000or 39,200shares was from the exchange of 700,000prepaid warrants at a VWAP of $ 0.56per prepaid warrant; and $ 430,000or 43,000shares was from other investors (of which $ 55,000or 5,500shares was from a related party, and one other investor subscription of $ 100,000or 10,000shares included a negotiated 327,868prepaid warrants to purchase common stock at $ 0.001per share).). (See Note 14.)

The Series B Preferred Stock has a liquidation preference equal to the greater of (i) 110% of the sum of (a) the Series B Preferred Stock Stated Value, plus (b) the amount of the aggregate dividends then accrued on such share of Series B Preferred Stock and not previously paid, or (ii) such amount per share as would have been payable had all shares of Series B Preferred Stock been converted into common stock immediately prior to such liquidation, dissolution or winding up. Accordingly, the Series B Preferred Stock liquidation preference as of March 31, 2025 (with 167,981shares outstanding and a stated value of $ 2,015,772) was $ 2,289,003. Subsequent to March 31, 2025, the Series B Preferred liquidation preference (with 659,437shares outstanding and a stated value of $ 7,913,244