Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 460

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 460
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 result in the Investor beneficially owning shares in excess of 4.99% of the number of the Company’s shares outstanding. In conjunction with the ELOC Purchase Agreement, on January 23, 2025, the Company’s Board of Directors approved the terms of the ELOC Purchase Agreement and Registration Rights Agreement, the offering of up to 100,000shares of Series B Preferred Stock, and the filing of the related ELOC Registration Statement for up to 250,000shares of common stock and 3,358shares of common stock issuable upon the exercise of the related Commitment Warrants. In February 2025, the Investor exercised the Commitment Warrants for $ 67. Subsequent to December 31, 2024, through April 28, 2025 an aggregate of 16,500shares of common stock had been sold to the investor under the ELOC Purchase Agreement for aggregate gross proceeds to the Company of $ 232,427. Preferred stock — Series B— Subsequent to December 31, 2024, by written consent dated January 23, 2025 (pursuant to authority conferred upon the Board of Directors by the Company’s second amended and restated certificate of incorporation), the Board of Directors designated 750,000shares of authorized but unissued Preferred F-108 Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements NOTE 17 — SUBSEQUENT EVENTS (cont.) Stock as Series B Convertible Preferred Stock (the “Series B Preferred Stock”). The shares of Series B Preferred Stock, par value $ 0.0001per share have a Subscription Price of $ 10per share and a stated value of $ 12per share (the “Series B Stated Value”). The Series B Preferred Stock is entitled to receive, out of funds legally available therefor, cumulative dividends at the rate of 15% per annum of the Series B Stated Value (or $ 1.80per share) payable if and when declared by the Board of Directors of the Company or upon conversion or redemption of the Series B Preferred Stock. Dividends on the Series B Preferred Stock may be paid by the Company in cash, by delivery of shares of common stock or through a combination of cash and shares of common stock. If paid in common stock, the holder shall receive a number of shares of common stock equal to the quotient of 110% of the accrued dividends to be paid in common stock divided by the Conversion Price (as defined below). The