Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 26

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 26
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 12,737,042 |   |
| Total liabilities           |     |               | 31,434,579 |   |     |               |  65,075,956 |   |     |                    |  69,690,688 |   |     |      | 34,590,398 |   |
| Total stockholders’ deficit |     |               |   (347,843 | ) |     |               | (33,989,220 | ) |     |                    | (43,422,456 | ) |     |      | (6,631,291 | ) |

| (1) | Pro forma balance sheet data as of September 30, 2024 presented                                                                               
 above includes the reclassification of certain liabilities to stockholders’ equity upon the closing of our initial public offering,           
 which was (i) the remaining prerequisite for the unconditional exchange of certain convertible notes into equity and (ii) the event that      
 fixed the strike price of the related warrants, thereby triggering the reclassification of both the notes and the related warrant liabilities 
 from liabilities to stockholders’ equity. See Note 16 to our unaudited interim condensed consolidated financial statements for                
 the nine month periods ended September 30, 2024 and 2023 included elsewhere in this prospectus. The Pro Forma balance sheet data as of        
 September 30, 2024 presented above: (i) does not include the proceeds from our initial public offering of 1,687,500 shares of common          
 stock at $4.00 per share, or $6,750,000, before deducting underwriting discounts, commissions and offering expenses; and, (ii) does not       
 include the proceeds from our private placement to two accredited investors of an aggregate of 382,205 common warrants to purchase common     
 stock with an exercise price of $0.01 per share at a purchase price of $3.99 per common warrant, or $1,524,998, before deducting underwriting 
 discounts and commissions and private placement expenses.                                                                                     |

13

Non-GAAP Financial Measures Adjusted net loss is a supplemental measure of our performance not required by or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). We define adjusted net loss as net loss before the change in value of the convertible notes and change in value of the warrant liabilities. The most directly comparable GAAP measure is net loss. Adjusted net loss is not a recognized term under GAAP and should