IPST: Material Corporate Action

Heritage Distilling (IPST) filed an 8-K announcing a 1-for-20 reverse stock split, effective November 5, 2025.

The split is mandated primarily for Nasdaq compliance (Rule 5550(a)(2)) and capital plan management.

Key Investor Points:

• Shares outstanding decrease from ~183.5M to ~9.17M.
• Authorized shares remain unchanged; total dilution potential is not reduced.
• No fractional shares issued; holders receive cash-in-lieu based on Nov 4 closing price.
• Stock options and warrants are adjusted inversely. Investor percentage ownership remains