Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 323

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 323
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4 exchange of promissory notes for common stock.

NOTE 6 — FAIR VALUE MEASUREMENT Upon the consummation of the Company’s initial public offering on November 25, 2024, the 2022 and 2023 Convertible Notes; Warrant Liabilities - 2022 and 2023 Convertible Notes; Whiskey Special Ops 2023 Notes; and Warrant Liabilities — Whiskey Special Ops 2023 Notes were all exchanged and reclassified from liabilities to equity. Accordingly, the respective fair values of those liabilities as of both September 30, 2025 and December 31, 2024 was $ 0,

F-26

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 6 — FAIR VALUE MEASUREMENT (cont.)

The following table provides a roll forward of the aggregate fair values of the Company’s financial instruments described above, for which fair value was determined using Level 3 inputs during the nine months ended September 30, 2024:

|                                  |     | 2022 and 2023 
 Convertible   
 Notes         |             |   |     | Whiskey     
 Special Ops 
 Notes       |            |     | 2022        
 Notes       
 Warrant     
 Liabilities |         |     | Whiskey       
 Special Ops   
 Notes Warrant 
 Liabilities   |            |   |     | Acquisition 
 Contingency 
 Liabilities |          |   |
|:---------------------------------|:----|:--------------|------------:|:--|:----|:------------|-----------:|:----|:------------|--------:|:----|:--------------|-----------:|:--|:----|:------------|---------:|:--|
| Balance as of January 1,         
 2024                             |     | $             |  36,283,891 |   |     | $           |  1,452,562 |     | $           | 794,868 |     | $             |  1,512,692 |   |     | $           |        — |   |
| Issuances                        |     |               |           — |   |     |             |  3,353,850 |     |             |       — |     |               |    302,020 |   |     |             |  584,203 |   |
| Change in Fair Value             |     |               |