other material
confidence high
sentiment neutral
materiality 0.75
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.