Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 360

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 360
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 a director of the Company, who purchased Pre -FundedWarrants to purchase 300,000shares of Common Stock. The Company intends to use (a) up to $ 4.0million of the net proceeds from the Offering for general corporate purposes initiated after the closing, (b) up to $ 0.6million for pre -existingworking capital commitments or obligations, and (c) at least $ 80.0million to purchase $IP Tokens from Story Foundation at a price per $IP Token of $ 3.40(as discussed below). The balance of the net proceeds will be used to purchase or otherwise acquire $IP Tokens and for the establishment of the Company’s cryptocurrency treasury operations to the extent consistent with the Company’s investment policy as amended or otherwise modified from time to time. The Company shall not use more than $ 7.0million of such proceeds: (i) for the satisfaction of any portion of the Company’s debt (other than payment of trade payables in the ordinary course of the Company’s business and prior practices), (ii) for the redemption of any Common Stock or (iii) for the settlement of any outstanding litigation. In connection with the announcement of the Offering, the Company announced the launch of its digital asset treasury reserve strategy, to be effective upon the closing of the Offering, pursuant to which the Company plans to use $IP Tokens as its primary treasury reserve asset on an ongoing basis. The is no assurance that the Company will be able to close on this transaction, or that if it does close the transaction, that it will be with substantially the same terms as described herein. If the transaction closes, the Company will disclose the final details in a related 8 -Kfiling. In conjunction with the Offering, in July 2025, the Company negotiated terms with a number of secured and unsecured creditors, whereby, the Company agreed to pay agreed to pay cash and or equity, in settlement of amounts owed to such obligees (as discussed in more detail below). In conjunction with the Offering, subsequent to June30, 2025, the Company purchased $ 80.0million of $IP Tokens from Story Foundation at a price per $IP Token of $ 3.40(as discussed above) that are subject to restrictions on transfer and lock -upagreements for 12 to 60months as follows: •$ 35,271,353of $IP Tokens for $ 21,000,000in cash on August18, 2025 at a price