Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 337

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 337
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LOC Shares are sold to the ELOC Investor. Under the terms of the ELOC Purchase Agreement, as consideration for its entry into the ELOC Purchase Agreement, the Company issued to the ELOC Investor 3,358Commitment Warrants, which were exercisable to purchase $ 75,000worth of common stock priced at the VWAP per share for the trading day preceding the date such documents are executed. The Commitment Warrants had an exercise price of $ 0.02per share and could not be exercised if such exercise into common stock, when combined with other common stock owned by the ELOC Investor, would cause its ownership to exceed 4.99% of the Company’s overall outstanding common stock. In February 2025, the Company issued 3,358Commitment Warrants to the ELOC Investor. In February 2025, the ELOC Investor exercised the Commitment Warrants for $ 67. On June 13, 2025, the Company filed a Form S -1Registration Statement under the Securities Act of 1933 to register up to a maximum of an additional 500,000ELOC Shares (the “June 2025 ELOC Registration Statement”), for an aggregate of 750,000ELOC Shares available under the ELOC Purchase Agreement, which was approved by the shareholders on June 24, 2025. Pursuant to the ELOC Purchase Agreement, the Investor also agreed to purchase $ 1,000,000of the Company’s Series B Preferred Stock, of which $ 500,000was purchased, and the Company delivered such Series B Preferred Shares, within twenty four (24) hours after the ELOC Registration Statement was filed with the SEC. The second tranche of $ 500,000was purchased, and the Company delivered such Series B Preferred shares, within three trading days following the date the ELOC Registration Statement was declared effective by the SEC. Each share of Series B Preferred Stock had a purchase price of $ 10.00per share and a stated value of $ 12.00per share, and was to pay dividends at the rate of 15% per annum of the stated value (or $ 1.80per share), and was convertible by the holder at any time following the 90 thday following the date of effectiveness of the ELOC Registration Statement. The conversion of Series B Preferred Stock into common stock was determined by dividing (a) an amount equal to 110% of the sum of (i) the stated value plus