Heritage Distilling enters $15M equity purchase agreement with C/M Capital, issues Series B Preferred

IP STRATEGY HOLDINGS, INC.

Entered securities purchase agreement to sell up to $15M common stock to C/M Capital Master Fund; issued warrant for 67,162 shares at $0.001.
Issued $500K of Series B Preferred Stock (15% dividend, convertible after 180 days) immediately; another $500K after registration effective.
Company may direct purchases at 95% of average VWAP or closing price; maximum $1M per fixed purchase, up to $2.5M per day.
Proceeds to be used for raw goods, digital marketing, wholesale efforts, debt repayment, and general working capital.
Certificate of Designation filed creating 750,000 shares of Series B Preferred; 50,000 issued initially.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

IP STRATEGY HOLDINGS, INC.: Created Series B Preferred Stock with 750,000 authorized shares and established its rights, preferences and other terms via Certificate of Designations filed with Delaware Secretary of State (effective 2025-01-23).

Change: charter amendment
Effective: 2025-01-23

Exact text from the filing

On January 23, 2025, the Company filed the Certificate of Designations, Preferences, Powers and Rights of the Series B Preferred Stock with the Delaware Secretary of State in the form attached hereto as Exhibit 3.1 (the “Certificate of Designation”), which created and authorized 750,000 shares of the Series B Preferred Stock and established the rights, preferences and other terms of the Series B Preferred Stock.

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IP STRATEGY HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001788230-25-000012

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