Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 322

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 322
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 accordance with the respective warrant agreement). As of September 2024, the Company recorded a total liability of $ (including $ of fees) related to this July 2024 factoring agreement, which was exchanged for shares of Series A Preferred Stock, including warrants to purchase shares of common stock at the lesser of $ per share or the price per share at which the common stock is sold in the Company’s initial public offering. Upon the November 25, 2024 initial public offering at $ per share, the warrants at $ per share were recalculated and reissued as warrants at $ per share.

As of September 30, 2025, the principal repayments of the Company’s debt measured on an amortized basis of $ will be due within five years from the issuance of these condensed consolidated financial statements. The outstanding principal repayments due within the next 12 months of $ and $, respectively, net of debt issuance costs of and $, respectively, was classified as a current liability on the Company’s consolidated balance sheet as of September 30, 2025 and December 31, 2024. The outstanding principal repayments due after the next 12 months of $ was classified as a long-term liability on the Company’s consolidated balance sheet as of September 30, 2025.

The following table represents principal repayments from 2025 and the years through 2029 and thereafter:

| Years Ending 
 2025         
 2026         
 2027         
 2028         
 2029         
 thereafter   |     | Amount | 2,308,109 
    67,678 
    71,139 
   149,701 
         — 
         — |
|:-------------|:----|:-------|----------:|
|              |     | $      | 2,596,627 |

Liabilities for Deferred Revenue — During 2023, the Company entered into a distilled spirits barreling production agreement with a related party for production of barrels of distilled spirits over time. There was a prepayment of $ made to the Company in January 2023. In March 2024, the agreement was amended to barrels for $, with the then $ excess prepayment used to purchase a promissory note in the principal amount of $, which was subsequently exchanged (upon the consummation of the Company’s initial public offering on November 25, 2024) under the terms of a Subscription Exchange Agreement for common stock in conjunction with the February 29, 202