Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 244

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 244
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 more than 5% of our common stock; •any immediate family member of any of the foregoing; or •any entity in which any of the foregoing is a partner or principal or in a similar position or in which such person has a 10% or greater beneficial ownership interest. In November 2024, our board of directors adopted a written related -partytransactions policy. Pursuant to this policy, the Audit Committee of our board of directors reviews all material facts of all related -partytransactions and either approves or disapproves entry into the related -partytransaction. In determining whether to approve or disapprove entry into a related -partytransaction, our Audit Committee takes into account, among other factors, the following: (i) the benefits of the transaction; (ii) the terms of the transaction; and (iii) whether the transaction would impact the independence of a Related Party, as defined in the policy. Related Party Transactions With the exception of the compensation arrangements for our named executive officers and directors, which are describe above, and the transactions set forth below, we were not a party to any related party transactions during the year ended December 31, 2024 or since December 31, 2024, and there are no currently proposed related -partytransaction that is under consideration by us. Transactions with Tiburon Opportunity Fund, L.P.Between April 19, 2022 and November 8, 2022, Tiburon Opportunity Fund, L.P., as well as the general partner of Tiburon Opportunity Fund, L.P. individually (together “Tiburon”), a related party that is a current stockholder of our company that owned more than 10% of our outstanding common stock as of December 31, 2023 and 2022, purchased our unsecured convertible promissory notes in the aggregate principal amount of $6,311,250 that bore interest at the rate of 29% per annum and were to mature on July 31, 2024. In connection with the purchase of such unsecured convertible promissory notes, we issued to Tiburon common stock purchase warrants to purchase up to 15,583 shares of common stock at $150 per share. Under the terms of the October 2023 Subscription Exchange Agreement, we amended the exercise price of such warrants (including those of the related party) to a fixed price of $120 per share, which fixed the number of shares issuable upon the exercise of such warrants of the related party at 19,479 shares.