Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 442

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 442
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 31, 2023, the fair value of the related party’s 2022 and 2023 Convertible Notes and warrant liabilities was $ 17,220,203and $ 340,918, respectively. In October 2023, the related party agreed to exchange its then held 2022 and 2023 Convertible Notesfor 1,717,559shares of common stock. (See Note 5 — Exchange of 2022 and 2023 Convertible Notes.) 2023 Series — Convertible Whiskey Special Ops 2023 Notes As of November 25, 2024, the fair value of the related party Whiskey Special Ops 2023 Notes and warrant liabilities was $ 4,815,132, and was reclassified from a liability to equity upon the effectiveness of the Company’s November 25, 2024 initial public offering, as further discussed below. As of December 31, 2023, $ 800,000in principal of the Whiskey Special Ops 2023 Notes were held by the related party, plus 106,667warrants to purchase common stock, calculated using a then estimated IPO price of $ 5.00per share. On February 29, 2024, the related party agreed to exchange its then held Whiskey Notes and related warrants for 1,203,783shares of common stock under the terms of the most recent round of 2023 Convertible Notes and the aforementioned warrants were terminated. (See Note 5.) On February 29, 2024, the related party agreed to exchange its then held Whiskey Special Ops 2023 Notes and related warrants for 1,203,783shares of common stock under the terms of the most recent round of 2023 Convertible Notes and the aforementioned warrants were terminated. (See Note 5 — Exchange of Convertible Whiskey Special Ops 2023 Notes.) Reclassification of Related Party Convertible Notes to Equity Upon the effectiveness of the Company’s initial public offering (on November 25, 2024, the aggregate fair value of the Company’s 2022 and 2023 Convertible Notes and related warrant liabilities, as well as the Whiskey Special Ops 2023 Notes and related warrant liabilities (including that portion held by the related party) were reclassified from a liability to equity based upon the $ 4.00price per share of common stock in the Company’s November 25, 2024 initial public offering, See also Note