Company: IPST
Filing Date: 2025-08-18
Form Type: 8-K
Source: 0001788230-25-000128
Chunk: 0

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-18
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On August 15, 2025, Heritage Distilling Holding Company, Inc. (the “Company”) entered into amendments (the “ Amendments”) to the subscription agreements dated August 11, 2025 (each, a “ Subscription Agreement” and collectively the “ Subscription Agreements”) with certain institutional and accredited investors (each, an “ Investor” and collectively, the “Investors”), pursuant to which the Company, subject to the restrictions and satisfaction of the conditions in the Subscription Agreements, had agreed to sell in a private placement offering (the “Offering”) to the Investors, and the Investors had agreed to purchase, an aggregate of 183,478,891 shares (the “ Shares”) of the Company’s common stock, par value $0.0001 per share (the “ Common Stock”), and pre-funded warrants (the “Pre-Funded Warrants”) to acquire in the aggregate up to 186,900,000 shares of Common Stock. The Amendments amended the Subscription Agreements to, among other things, provide that, in lieu of offering and selling the Shares in the Offering, the Company would offer and sell, and each Investor would purchase, in the Offering Pre-Funded Warrants in an amount equal to the number of shares of Common Stock that each such Investor had originally agreed to purchase in the Offering for a purchase price per Pre-Funded Warrant equal to $0.6042. The Amendments also amended the form of the Pre-Funded Warrants to be issued in the Offering to provide that the Pre-Funded Warrants may not be exercised until the Company receives stockholder approval of the Offering as required under the Nasdaq Listing Rules, including Nasdaq Listing Rule 5635(a) (the “Stockholder Approval”), and to provide that, unless otherwise elected by an Investor and subject to any beneficial ownership limitation that may be included in a Pre-Funded Warrant, the Pre-Funded Warrants will be automatically exercised on a cashless basis on the date the Company receives the Stockholder Approval.

On August 15, 2025, the Company closed the Offering, at which the Company sold to the Investors Pre-Funded Warrants to purchase an aggregate of 370,378,890 shares of Common Stock at a purchase price of $0.6042 per Pre-Funded Warrant, for an aggregate purchase price of $223.8 million, before deducting placement agent fees and other offering expenses. Included among the Investors in