Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 317

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 317
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. (Including $ 266,667received from a related party, which was exchanged for 29,661shares of Series A Preferred Stock, and 13,333warrants.) Upon the November 25, 2024 initial public offering at $ 4.00per share, the 19,983warrants at $ 5.00per share were recalculated and reissued as 24,978warrants at $ 4.00per share (and the 13,333related party warrants at $ 5.00per share were recalculated and reissued as 16,666warrants at $ 4.00per share). (See Note 15.)

In July 2024, the Company raised an additional $ 250,000from an investor under the terms of a July 2024 accounts receivable factoring arrangement. The Company issued 83,333 five yearwarrants to purchase common stock at $ 6.00per 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 $ 27,000of fees) related to this July 2024 factoring agreement, which was exchanged for 27,700shares of Series A Preferred Stock, including 12,500warrants to purchase shares of common stock at the lesser of $ 5.00per 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 $ 4.00per share, the 12,500warrants at $ 5.00per share were recalculated and reissued as 15,625warrants at $ 4.00per share.

As of December 31, 2024, the principal repayments of the Company’s debt measured on an amortized basis of $ 13,381,016will be due within five yearsfrom the issuance of these consolidated financial statements. The outstanding principal repayments due within the next 12 months of $ 3,758,595and $ 14,270,956, respectively, net of debt issuance costs of $ 140,082and $ 398,324, respectively, was classified as a current liability on the Company’s consolidated balance sheets as of December 31, 2024 and December 31, 2023. The outstanding principal repayments due after the