Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 279

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 279
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 shares of common stock and 507,394 prepaid warrants; The actual unconditional exchange of the Convertible Notes and
reclassification of the aggregate fair value of exchanged notes (of $18,482,353 and $36,283,891 as of September 30, 2024 and December 31,
2023, respectively) will be reclassified from Convertible Notes to equity under the terms of the Subscription Exchange Agreement will
occur upon the closing of the Company’s IPO (which occurred subsequent to September 30, 2024, on November 25, 2024) — which
is the remaining prerequisite for the unconditional exchange of the 2022 and 2023 Convertible Notes for equity. (See Note 5.) Upon
approval of the April 2024 increase of authorized capital stock, the Whiskey Special Operation Convertible Notes were exchanged (contingent
upon the consummation of the Company’s initial public offering, which occurred subsequent to September 30, 2024, on November 25,
2024) for 2,399,090 additional shares of common stock and 546,927 prepaid warrants; The actual unconditional exchange of the Convertible
Notes and reclassification of the aggregate fair value of exchanged notes (of $14,283,752 and $1,452,568 as of September 30, 2024 and
December 31, 2023, respectively) will be reclassified from Convertible Notes to equity under the terms of the Subscription Exchange Agreement
upon the closing of the Company’s anticipated IPO (which occurred subsequent to September 30, 2024, on November 25, 2024) —
which is the remaining prerequisite for the unconditional exchange of the Whiskey Special Operation Convertible Notes for equity. (See
Note 5.) As of September 30, 2024, the Company had 441,914 shares of common stock issued and outstanding. As of September 30,
2024, including the 5,711,238 shares of common stock related to the conversion of the Convertible Notes, the Company had 6,153,152 shares
of common stock issued and outstanding. During the nine months ended September 30, 2024 and year ended December 31, 2023,
the Company repurchased 21 and 72 shares of common stock, respectively, and 0, 9,493 and 0 common stock warrants, respectively, were exercised.

In the second quarter of 2024