Company: IPST
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001641172-25-009076
Chunk: 251

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-07
Form: POS AM
Chunk 251
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 May 24, 2025, an exercise price of $ 4.00per share, and an expiration date of November 21, 2029.

Common stock— On October 31, 2023, the Company’s Board of Directors and shareholders increased the number of shares the Company is authorized to issue from 3,000,000shares to 10,000,000shares, including 9,500,000shares of common stock and 500,000shares of Founders Common Stock, par value of $ 0.0001per share (which Founders Common Stock had fourvotes per share). The key terms of the common stocks are summarized below:

Dividends— The holders of common stock and Founders Common Stock are entitled to receive dividends if declared by the Board of Directors. Nodividends have been declared since the inception of the Company.

Voting rights— The holders of Founders Common Stock are entitled to fourvotes for each share of Founders Common Stock and general common stockholders are entitled to onevote for each share of general common stock.

Upon approval of the April 2024 increase in authorized shares, the 2022 and 2023 Convertible Notes were exchanged (contingent upon the consummation of the Company’s initial public offering) for 3,312,148additional shares of common stock and 507,394prepaid warrants; The actual unconditional exchange of the 2022 and 2023 Convertible Notes and reclassification of the aggregate fair value of exchanged notes (of $ 15,278,168as of November 25, 2024, (the date of the Company’s initial public offering) was reclassified from Convertible Notes to equity (of Common Stock Par Value of $ 382and Paid-in-capital of $ 15,277,786) under the terms of the Subscription Exchange Agreement upon the closing of the Company’s initial public offering — which occurred on November 25, 2024 and was 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 in authorized shares, the Whiskey Special Operation Convertible Notes were exchanged (contingent upon the consummation of the Company’s initial public offering, which occurred on November 25, 2024) for 2,399,090additional shares of common stock and 546,927prepaid warrants; The actual unconditional exchange of the Convert