Company: IPST
Filing Date: 2025-06-23
Form Type: 424B3
Source: 0001641172-25-015954
Chunk: 323

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-23
Form: 424B3
Chunk 323
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 that were included in the valuation of the Whiskey Special Ops 2023 Notes warrant liabilities as of December 31, 2023, include:

|                                 |     | December 31, 2023 |               |   |     |                   |      |   |
|:--------------------------------|:----|:------------------|--------------:|:--|:----|:------------------|-----:|:--|
| Significant Unobservable Input  |     | Input  Range      |               |   |     | Weighted  Average |      |   |
| Expected Term (in years)        |     |                   | 0.125 – 4.667 |   |     |                   |      |   |
| Volatility                      |     |                   |            70 | % |     |                   |   70 | % |
| Risk-free Rate                  |     |                   |          3.87 | % |     |                   | 3.87 | % |
| Probability scenarios           |     |                   |               |   |     |                   |      |   |
| IPO                             |     |                   |            70 | % |     |                   |      |   |
| deSPAC                          |     |                   |             0 | % |     |                   |      |   |
| Default/Dissolution/Liquidation |     |                   |            20 | % |     |                   |      |   |
| Held to Maturity                |     |                   |            10 | % |     |                   |      |   |

| F-61 |

<div align='center'>Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements</div>

NOTE 8 — FAIR VALUE MEASUREMENT(cont.)

The following table provides a roll forward of the aggregate fair values of the Company’s financial instruments described above, for which fair value is determined using Level 3 inputs:

SCHEDULE OF AGGREGATE FAIR VALUE OF FINANCIAL INSTRUMENTS

|                                                     |     | 2022 and 2023 Convertible Notes |             |   |     | Whiskey  Special Ops  Notes |             |   |     | 2022 Notes Warrant Liabilities |            |   |     | Whiskey  Special Ops  Notes Warrant  Liabilities |            |   |
|:----------------------------------------------------|:----|:--------------------------------|------------:|:--|:----|:----------------------------|------------:|:--|:----|