Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 417

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 417
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85

Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements 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:

|                                 |     | 2022 and 2023 
 Convertible   
 Notes         |             |   |     | Whiskey     
 Special Ops 
 Notes       |             |   |     | 2022 Notes  
 Warrant     
 Liabilities |            |   |     | Whiskey       
 Special Ops   
 Notes Warrant 
 Liabilities   |            |   |
|:--------------------------------|:----|:--------------|------------:|:--|:----|:------------|------------:|:--|:----|:------------|-----------:|:--|:----|:--------------|-----------:|:--|
| Balance as of January 1, 2022   |     | $             |   8,041,000 |   |     | $           |           — |   |     | $           |    433,000 |   |     | $             |          — |   |
| Issuances                       |     |               |   5,577,125 |   |     |             |   1,353,473 |   |     |             |     12,874 |   |     |               |  1,621,527 |   |
| Change in Fair Value            |     |               |  22,665,765 |   |     |             |      99,089 |   |     |             |    348,994 |   |     |               |   (108,835 | ) |
| Balance as of December 31, 2023 |     |               |  36,283,890 |   |     |             |   1,452,562 |   |     |             |    794,868 |   |     |               |  1,512,692 |   |
| Issuances                       |     |               |           — |   |     |             |   3,353,850 |   |     |             |          — |   |     |               |    302,020 |   |
| Change in Fair Value            |     |               | (21,005,722 | ) |     |             |   6,