Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 403

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 403
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 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 years from 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 next 12 months of $ 9,482,339was classified as a long -termliability on the Company’s consolidated balance sheet as of December 31, 2024. F-74

Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements NOTE 6 — BORROWINGS (cont.)

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

| Years Ending |     | Amount |            |
|:-------------|:----|:-------|-----------:|
| 2025         |     | $      |  3,829,169 |
| 2026         |     |        |  9,245,977 |
| 2027         |     |        |     66,789 |
| 2028         |     |        |    239,081 |
| 2029         |     |        |          — |
| there after