Heritage Distilling sold 11.96M shares for ~$4.8M at $0.32-$0.45, massively diluting existing holders

IP STRATEGY HOLDINGS, INC.

Sold 11,962,810 shares from Feb 19 to July 30, 2025 for aggregate gross proceeds of ~$4,816,234.
Majority of shares (10,525,357) sold between July 15 and July 30, 2025 at prices ranging $0.32-$0.45 per share.
After the sales, total shares outstanding rose to 23,623,852, implying significant dilution for existing holders.
The Purchase Agreement with C/M Capital Master Fund provides for up to $15M in share sales; ~$4.8M utilized to date.

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