Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 151

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 151
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 party); approximately $695,000 proceeds from notes payable; approximately
$2,025,000 from the sale of preferred stock. During the nine months ended September 30, 2024, the aggregate proceeds of the convertible
notes, notes payable and preferred stock of approximately $6,376,000 were slightly offset by approximately $166,000 of other expenditures,
including deferred transaction costs associated with our IPO of approximately $23,000, and repayment of notes payable of approximately
$139,000. The cash proceeds received in the nine months ended September 30, 2023 of approximately $6,047,000 were related to proceeds
from convertible notes of approximately $6,165,000 (of which approximately $3,000,000 was from a related party); $250,000 proceeds from
notes payable. During the nine months ended September 30, 2023, the aggregate proceeds of the convertible notes and notes payable of approximately
$6,415,000 were partially offset by an aggregate of approximately $368,000 of other expenditures, including repayment of notes payable
of approximately $144,000, and deferred transaction costs associated with our terminated business combination of approximately $213,000.

During the years ended December 31, 2023
and 2022, net cash provided by financing activities was approximately $8,358,000 and $9,929,000, respectively. The cash proceeds received
in 2023 were primarily comprised of proceeds from convertible notes of approximately $8,565,000 (of which approximately $3,750,000 was
from a related party) and proceeds from notes payable of approximately $250,000. During the year ended December 31, 2023, the aggregate
proceeds of the convertible notes and notes payable of approximately $8,815,000 were slightly offset by approximately $457,000 of other
expenditures, including deferred transaction costs associated with the initial public offering we concluded in November 2024 of approximately
$263,000, repayment of notes payable of approximately $183,000, and repurchase of common stock of approximately $11,000 from former employees.
The cash proceeds received in 2022 were related to proceeds from convertible notes of approximately $10,740,000, of which approximately
$4,675,000 was from a related party, and proceeds from notes payable of approximately $250,000, which were partially offset by an aggregate
of approximately $1,009,000 of