Company: IPST
Filing Date: 2025-10-31
Form Type: 8-K
Source: 0001788230-25-000168
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Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-31
Form: 8-K
Item: Item 3.03
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Item 3.03 Material Modification to Rights of Security Holders.

On October 30, 2025, Heritage Distilling Holding Company, Inc., a Delaware corporation doing business under the name IP Strategy (the “ Company”), filed a Third Amendment to the Company’s Second Amended and Restated Certificate of Incorporation, as amended (the “ Certificate of Amendment”), with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse stock split (the “ Reverse Stock Split”) of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “ Common Stock”). The Reverse Stock Split will become effective on the Effective Time (as defined below).

Reason for the Reverse Stock Split

The Company is effectuating the Reverse Stock Split as a part of the Company’s overall capital-markets and operating plan, including but not limited to the management of dilution and continued compliance with Nasdaq Listing Rule 5550(a)(2).

Effects of the Reverse Stock Split

Effective Date; Symbol; CUSIP Number. The Reverse Stock Split will become effective as of 12.01 a. m. Eastern Time on November 5, 2025 (the “ Effective Time”). It is expected that the Common Stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market when the market opens on November 5, 2025, under the existing trading symbol “ IPST”. The CUSIP number for the Common Stock will change to 42727R 203.

Split Adjustment; No Fractional Shares. At the Effective Time, the total number of shares of the Company’s Common Stock held by each stockholder will be automatically converted into the number of whole shares of Common Stock equal to (i) the number of issued and outstanding shares of Common Stock held by such stockholder immediately prior to the Reverse Stock Split, divided by (ii) twenty (20). No fractional shares will be issued and, in lieu thereof, upon surrender after the Effective Time of a certificate which formerly represented shares of Common Stock that were issued and outstanding immediately prior to the Effective Time, any person who would otherwise be entitled to a fractional share of Common Stock as a result of the Reverse Stock Split, following the Effective Time, will be entitled to receive a cash payment equal to the product of the closing sale price of the Common Stock on the Nasdaq Capital Market on November 4, 2025 and the amount of the fractional share. For the avoidance of doubt, as all