Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 118

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 118
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 of Series B Preferred Stock for 1,521,175share of common stock. The remaining 70,519 outstanding shares of Series B Preferred Stock have a conversion price of $0.4736 per share and are convertible into 2,300,456shares of common stock. The Series B Preferred Stock will be subject to redemption by us at our option at any time at a redemption price equal to the stated value of the Series B Preferred Stock to be redeemed plus any accrued but unpaid dividends thereon. In July and August 2025, two investors converted an aggregate of 56,462shares of Series B Preferred Stock into 1,521,175shares of common stock. 67 In connection with the closing of our offering of Pre -FundedWarrants, we entered into exchange agreements with all but one holder of our Series B Preferred Stock pursuant to which we exchanged 629,873shares of Series B Preferred Stock that were convertible into 17,897,336shares of common stock for (i) 894,856shares of common stock; (ii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 8,948,676shares of common stock at the earlier of (a) the date on which our common stock closes at $1.50 per share or higher during a regular trading day or (b) on the three -monthanniversary of the warrant issuance date; and (iii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 8,053,804shares of common stock at the earlier of (a) the date on which our common stock closes at $2.00 per share or higher during a regular trading day or (b) on the six -monthanniversary of the warrant issuance date. Of the shares of Series B Preferred Stock that was exchanged for common stock and warrants, 299,543shares of Series B Preferred Stock that were convertible into 8,635,864shares of common stock were exchanged by a related party for (i) 431,791shares of common stock; (ii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 4,317,934shares of common stock at the earlier of (i) the date on which our common stock closes at $1.50 per share or higher during a regular trading day or (ii) on the three -monthanniversary of the warrant