Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 5

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 5
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. You should read this entire prospectus carefully, including the information set forth in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and related notes thereto contained in this prospectus, before making an investment decision. Unless the context requires otherwise, references in this prospectus to “we,” “us,” “our,” “our company,” or similar terminology refer to Heritage Distilling Holding Company, Inc. and its subsidiaries. Our Company Overview We are a craft spirits 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 15, 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. After closing the PIPE transaction and as part of our treasury reserve strategy, we established as a new business segment a new validator business in which we stake the majority of the $IP Tokens in our treasury to earn a staking yield and turn our treasury into a productive asset. A cryptocurrency validator is like a digital “notary” or “referee” in a blockchain network. Its job is to check that transactions on the network are real and follow the network rules. Validators also are randomly selected to propose a new block of transactions to be added to the blockchain. When a participant attempts a transaction, that participant is required to pay a minimum “gas” fee. A participant can opt to pay an additional fee to ensure that its transaction is added to the blockchain more quickly. These fees are denominated in the same cryptocurrency that is evidenced by the blockchain. In