Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 338

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 338
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 exchanged for Series B Preferred Stock on May 1, 2025. See also Preferred Stock — Series B below). The Company received subscriptions for $ 4,948,478of Series A Preferred Stock (of which $ 1,831,265was from a related party), including $ 2,025,000in cash (of which $ 834,000was from a related party); $ 1,155,000in the form of 525barrels of aged whiskey (with an average value of $ 2,200per barrel and with $ 259,875allocated F-36 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 8 — STOCKHOLDERS’ EQUITY/(DEFICIT) (cont.) to barrel fixed assets and $ 895,125allocated to whiskey inventory); $ 110,600was paid by the sale of and transfer to the Company by a related party of an aggregate of 50barrels of premium aged whiskey (with an average value of $ 2,212per barrel and with $ 24,750allocated to barrel fixed assets and $ 85,850allocated to whiskey inventory); and, $ 719,919was paid by the cancellation of outstanding indebtedness (factoring agreements) (of which $ 296,619was from a related party). In addition, the Series A Preferred Stockholders who were issued Series A Preferred Stock in July through September 2024 received an additional 25,515warrants with an exercise price of $ 120per share as part of the Series A Preferred Stock subscriptions (the “$ 120Warrants”) (of which 16,051of the $ 120Warrants were issued to a related party). In September 2024, the 25,515$ 120Warrants (including 16,051$ 120Warrants from a related party) were exchanged for 93,789shares of Series A Preferred Stock that did not include any related warrants (including 59,001shares of Series A Preferred Stock that did not include any related warrants for a related party). The value assigned to the $ 120Warrants exchanged for Series A Preferred Stock that did not include any warrants was negotiated to be $ 937,959(including $ 590,045from a related party), or $ 1.838per $ 120Warrant using a Black -ScholesValuation model with a then estimated IPO stock price of