Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 33

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 33
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 our corporate -levelexpenses; taxes; the timing, size and pricing of equity or debt financings (including at -the-marketofferings, equity line financings or convertible securities), equity awards and other sources of dilution; expectations about our future purchases or sales of $IP tokens or staking activity; our liquidity and public float; differences in trading hours and market microstructure between our common stock and spot markets for $IP tokens; changes in index inclusion, analyst coverage or investor sentiment toward us as an operating company; our corporate governance, financial reporting, and any actual or perceived operational, custody, technology or regulatory risks specific to us; and broader equity -marketconditions independent of crypto -assetmarkets. As a result, our common stock may trade at a premium or discount to the value of our $IP token holdings for extended periods, and may be more volatile than the price of $IP tokens. Accordingly, investors could lose all or a substantial part of their investment even if the market price of $IP tokens does not decline, and may not benefit commensurately from increases in the market price of $IP tokens. $IP tokens and other digital assets are novel assets and are subject to significant legal, commercial, tax, regulatory and technical uncertainty, which could materially adversely affect our financial position, operations and prospects. $IP tokens and other digital assets are relatively novel and are subject to significant uncertainty, which could adversely impact their price. The application of state and federal securities laws, taxes and other laws and regulations to digital assets is unclear in certain respects, and it is possible that regulators and tax authorities in the United States or foreign countries may interpret or apply existing laws and regulations in a manner that adversely affects the price of $IP tokens or other digital assets, or the revenue derived therefrom. The U.S. federal government, states, regulatory agencies, and foreign countries may also enact new laws and regulations, or pursue regulatory, legislative, enforcement or judicial actions, that could materially impact the price of $IP tokens or the ability of individuals or institutions such as us to own or transfer $IP tokens. For example, the U.S. executive branch, the SEC, the European Union’s Markets in Crypto Assets Regulation, among others, have been active in recent years, and in the U.K., the Financial Services and Markets Act 2023, or FSMA 2023, became law. Moreover, on July18, 2025, President Trump signed into law the GENIUS Act, establishing a legislative framework for