Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 363

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 363
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4) under the terms of a Subscription Exchange Agreement for common stock in conjunction with the February 29, 2024 exchange of Whiskey Notes for common stock in conjunction with the February 29, 2024 exchange of Whiskey Notes for common stock. Factoring Agreement(s) In May 2024, the Company raised $ 100,000under the terms of an accounts receivable factoring arrangement with the related party, with fees of 10% (or $ 10,000) and $ 1,000for every two weeks payment remains overdue. Payment under the factoring agreement is due the earlier of: within three days of receipt of payment under the factored accounts receivable; the achievement of certain fundraising milestones; or June 15, 2024. As of June 30, 2024 the factoring agreement remained unpaid. In July 2024, the investor agreed to exchange his interest in the factoring agreement of $ 113,285into a subscription for the purchase of 11,328shares of Series A Preferred Stock and 250warrants to purchase shares of common stock at the lesser of $ 100per share or the price per shares at which the Company’s common stock is sold in the Company’s initial public offering (the “$ 100Warrants”), and 1,485warrants at $ 120per share (the “$ 120Warrants”) and related warrants. Upon the November 25, 2024 initial public offering at $ 80per share, the 250warrants at $ 100per share were recalculated and reissued as 312warrants at $ 80per share. F-47 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 13 — RELATED-PARTY TRANSACTIONS (cont.) As of July 1, 2024, the Company raised an additional aggregate of $ 299,667between two separate investors under the terms of a July 2024 accounts receivable factoring arrangement with fees of 10% (or $ 29,966) and $ 1,000(separately, to each of the two investors) for every two weeks payment remains overdue. Additionally, the two investors received five yearwarrants to purchase an aggregate of 3,327shares of common stock at $ 120per share (or cashlessly following a standard cashless exercise formula). Of the total July 2024 accounts receivable factoring agreement,