Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 268

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 268
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 30, 2024,
upon the November 25, 2024 initial public offering at $4.00 per share, the 19,983 warrants at $5.00 per share were recalculated and
reissued as 24,979 warrants at $4.00 per share (and the 13,333 related party warrants at $5.00 per share were recalculated and
reissued as 16,667 warrants at $4.00 per share). (See Notes 14 and 16.)

In July 2024, the Company raised an additional $250,000 from an investor under the terms of a July 2024 accounts receivable factoring arrangement. The Company issued 83,333 five year warrants to purchase common stock at $6.00 per share in conjunction with the July 2024 accounts receivable factoring arrangement (which remain outstanding). As of September 2024, the Company recorded a total liability of $277,000 (including $27,000 of fees) related to this July 2024 factoring agreement, which was exchanged for 27,700 shares of Series A Preferred Stock, including 12,500 warrants to purchase shares of common stock at the lesser of $5.00 per share or the price per share at which the common stock is sold in the Company’s initial public offering. Subsequent to September 30, 2024, upon the November 25, 2024 initial public offering at $4.00 per share, the 12,500 warrants at $5.00 per share were recalculated and reissued as 15,625 warrants at $4.00 per share. (See Note 16.)

As of September 30, 2024, the principal repayments of the Company’s debt measured on an amortized basis of $14,965,147 will be due within five years from the issuance of these condensed consolidated financial statements. The outstanding principal of $14,805,817 and $14,270,956, respectively, net of debt issuance costs of $159,330 and $398,324, respectively, was classified as a current liability on the Company’s consolidated balance sheets as of September 30, 2024 and December 31, 2023. The outstanding principal of $389,874 was classified as a long-term liability on the Company’s consolidated balance sheet as of September 30, 2024.

The following table represents principal repayments from 2024 and the years through 202