Company: IPST
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001788230-25-000148
Chunk: 21

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 21
---
 Co. and Roth Capital Partners, LLC, as placement agents (the “Placement Agents”), for the Offering. Pursuant to the Agency Agreement, we (i) paid to the Placement Agents a cash fee in the amount of $4.3 million and (ii) issued to the Placement Agents warrants to purchase an aggregate of 4,307,289 shares of common stock, initially with an exercise price of $0.01 per share and a five-year term (the “Agent Warrants”). The shares of common stock issuable upon exercise of the Agent Warrants are referred to herein as the “Agent Warrant Shares.” We also reimbursed the expenses of the Placement Agents in the aggregate amount of $300,000.

Why We are Seeking Stockholder Approval

Our common stock is listed on the Nasdaq Capital Market under the symbol “CASK.” Because the common stock is listed on Nasdaq, we are subject to Nasdaq’s rules and regulations. Pursuant to Nasdaq Listing Rule 5635(a), stockholder approval is required prior to the issuance of securities in connection with the acquisition of the stock or assets of another company if: (1) where, due to the present or potential issuance of common stock, including shares issued pursuant to an earn-out provision or similar type of provision, or securities convertible into or exercisable for common stock, other than a public offering for cash: (A) the common stock has or will have upon issuance voting power equal to or in excess of 20% of the voting power outstanding before the issuance of stock or securities convertible into or exercisable for common stock; or (B) the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities. The aggregate number of shares of common stock underlying the Pre-Funded Warrants equals 370,378,890 shares, representing 1,461.3% of the total number of outstanding shares of common stock immediately prior to the Offering and in excess of

| Heritage Distilling Holding Company, Inc. |     | 11 |     | Special Meeting Proxy Statement |

Proposal One

20% of the total number of outstanding shares of common stock immediately prior to the Offering. As we have agreed to utilize at least $80.0 million from the Offering to purchase $IP Tokens from Story Foundation at a price per $IP Token of $3.40, Nasdaq informed us that stockholder approval of the