Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 20

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 20
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 the exchange of 284,140shares of Series A Preferred Stock and 116,263 related warrants to purchase common stock at $4.00 per share; $392,000 (39,200shares with an adjusted conversion price of $0.4736 per share of common stock) was from the exchange of 700,000 prepaid warrants at a VWAP of $0.56 per prepaid warrant; and $167,180 (16,717shares with a conversion price of $0.51 per share of common stock) was from the exchange of 327,868 prepaid warrants at a VWAP of $0.56 per prepaid warrant. The 756,854shares of Series B Preferred Stock had conversion prices ranging from $0.4736 per share to $1.12 per share and a weighted average conversion price of $0.50 per share. In connection with the closing of our offering of Pre -FundedWarrants discussed below, we entered into exchange agreements with all but one holder of our Series B Preferred Stock pursuant to which we exchanged 629,873shares of Series B Preferred Stock that were convertible into 17,897,336shares of common stock for (i) 894,856shares of common stock; (ii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 8,948,676shares of common stock at the earlier of (a) the date on which our common stock closes at $1.50 per share or higher during a regular trading day or (b) the three -monthanniversary of the warrant issuance date; and (iii) warrants with an exercise price of $0.01 per share that are exercisable to purchase an aggregate of 8,053,804shares of common stock at the earlier of (a) the date on which our common stock closes at $2.00 per share or higher during a regular trading day or (b) the six -monthanniversary of the warrant issuance date. Following such exchanges, at August25, 2025,70,519shares of Series B Preferred Stock remained outstanding. The purchasers of our Series B Preferred Stock are included among the Selling Stockholders included in this prospectus and we have registered an aggregate of 2,300,456shares of common stock issuable upon conversion of the outstanding shares of Series B Preferred Stock under the registration statement of which this prospectus forms a part and such shares of common stock may be sold from time to time by such Selling