Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 124

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 124
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 rounded component numbers; and the rounding of the total of the individual component numbers. In cases where rounding occurred, the amount of the rounding difference is not material and are considered to be insignificant. Business Overview We are a craft distiller producer making, marketing and selling a diverse line of award -winningcraft spirits, including whiskeys, vodkas, gins, rums, and “ready -to-drink” canned cocktails. We recognize that taste and innovation are key criteria for consumer choices in spirits and have developed differentiated products that are responsive to consumer desires for rewarding and novel taste experiences. In connection with the development of our cryptocurrency treasury reserve policy, on August 2025, we completed a $223.8million PIPE transaction pursuant to which we acquired 53.2million $IP Tokens in our digital asset treasury. The $IP Token is the native cryptocurrency of the Story Network, running on the Story IP layer 1 blockchain. The $IP protocol and related $IP Tokens can be used to pay for computational services on the Story Network, to mint or manage digital rights objects, or to transfer value in network -nativetransactions. These tokens can also be exchanged for fiat currencies, such as the U.S. dollar, at rates determined on digital asset trading platforms or in individual end -user-to-end-usertransactions using decentralized trading protocols. As part of our treasury reserve strategy, we set up a validator business as a reporting segment to generate ongoing recurring revenue from activities associated with such validation efforts. Our Spirits Business. Our spirits business competes in the craft spirits segment, a growing segment of the overall $288billion spirits market. According to the American Craft Spirits Association, a craft distillery is defined generally as a distillery that produces fewer than 750,000 gallons annually and holds an ownership interest of 51% or more of a distilled spirits plant that is licensed by the Alcohol and Tobacco Tax and Trade Bureau of the U.S. Department of the Treasury. According to Emergen Research, the global craft spirits market was valued at $27.48billion in 2024 and was forecasted to reach $260.65billion by 2034. Out of the more than 2,600 craft producers in North America, we have been recognized with more awards for our products from the American Distilling Institute, the leading independent spirits association in the U.S., than any other North American craft distiller for a decade, plus numerous other Best of Class, Double Gold and Gold medals from multiple national and