Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 346

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 346
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, 2025, which was from the November 25, 2024 closing of the Company’s initial public offering). As of September 30, 2025, 0 RSUs were outstanding.

F-40

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 8 — STOCKHOLDERS’ EQUITY/(DEFICIT) (cont.)

The following table presents stock-based compensation expense included in the condensed consolidates statements of operations related to RSUs issued under the 2024 Plan:

|                                |     | For the Nine Months Ended 
 September 30,             
 2025                      |           |     | 2024 |   |
|:-------------------------------|:----|:--------------------------|----------:|:----|:-----|:--|
| Cost of Sales                  |     | $                         |   121,107 |     | $    | — |
| Sales and Marketing            |     |                           |   647,295 |     |      | — |
| General and Administrative     |     |                           | 2,282,261 |     |      | — |
| Total Share-based Compensation |     | $                         | 3,050,663 |     | $    | — |

Equity-classifiedwarrants — The Company estimates the fair values of equity warrants using the Black-Scholes option-pricing model on the date of issuance with Monte Carlo simulations to determine the probability of warrants being exercisable.

Contingent Legacy Shareholder Warrants — On October 30, 2024, the Company issued warrants to purchase common stock that became contingently exercisable upon the closing of an initial public offering (which occurred on November 25, 2024), at the price per share of the Company’s initial public offering (or $ per share) to its common shareholders of record as of May 31, 2023 (the “Contingent Legacy Shareholder Warrants”), that will be exercisable, if at all, provided/contingent upon: if the warrant holder continuously holds the shares such holder owned on May 31, 2023 through the date the warrant is exercised; and if the common stock attains a specified volume weighted average price per share (“VWAP”) over a -trading-day period (the “10-Trading-Day VWAP”) before expiring:

•Tranche 1 — for up to shares of common stock (of which up to were