Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 336

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 336
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 all accrued dividends, by (b) the then-applicable Conversion Price.

Any time on or after June 15, 2025, the Company shall have the right to redeem some or all of the outstanding shares of Series A Preferred Stock from funds legally available therefor, upon at least 30days prior written notice to the holders of the Series A Preferred Stock, at a redemption price per share equal to 110% of the sum of the Stated Amount, plus all accrued and unpaid dividends on such shares of Series A Preferred Stock (or $ 492,366as of December 31, 2024).

The Company received subscriptions of $ 4,948,478of Series A Preferred Stock (of which $ 1,831,265was from a related party), including $ 2,025,000in cash (of which $ 834,000was from a related party); $ 1,155,000in the form of 525barrels of aged whiskey (with an average value of $ 2,200per barrel and with $ 259,875allocated to barrel fixed assets and $ 895,125allocated to whiskey inventory); $ 110,600was paid by the sale of and transfer to the Company by a related party of an aggregate of 50barrels of premium aged whiskey (with an average value of $ 2,212per barrel and with $ 24,750allocated to barrel fixed assets and $ 85,850allocated to whiskey inventory); and, $ 719,919was paid by the cancellation of outstanding indebtedness (factoring agreements) (of which $ 296,619was from a related party). In addition, the Series A Preferred Stockholders who were issued Series A Preferred Stock in July through September 2024 received an additional 510,315warrants with an exercise price of $ 6.00per share as part of the Series A Preferred Stock subscriptions (the “$ 6.00Warrants”) (of which 321,026of the $ 6.00Warrants were issued to a related party). In September 2024, the 510,315$ 6.00Warrants (including 321,026$ 6.00Warrants from a related party) were exchanged for 93,789shares of Series A Preferred Stock that did not include any related warrants (including 59,001shares of Series A Preferred Stock that did not include any related warrants for a related party). The value assigned to the $