Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 169

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 169
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2,963,624 of Warrants with the remaining $2,610,627 recognized as a gain on settlement in retained earnings; and, b) an aggregate of $3,792,767 of our unsecured accounts payable as of June 30, 2025 settled for $1,816,250 in cash, $851,628 in Warrants with the remaining $1,124,889 to be recognized in the then current period (third quarter) statement of operations in the respective expense accounts to which the expenses were originally recorded. See Negotiated Restructurings and Settlement Agreements and with Outstanding Secured Notes and Unsecured Payables below for additional details; (iii)reduction of current liabilities, including the effect of: payment of $643,548 of accounts payable (in addition to the $3,792,767 of settled accounts payable discussed in (i) above) and $425,017 of accrued / deferred payroll; $157,311 of accrued taxes and related payroll taxes; $349,779 in reduced current lease liability resulting from the reduction of leased space in our Gig Harbor distribution warehouse and Tumwater warehouse; and reduction of $312,405 of other current liabilities. The reduction of current liabilities also includes the $1,700,000 current portion of the $10,382,438 Silverview Loan and the related $53,805 of current portion of accrued interest discussed in (i) above. (iv)an aggregate of 10,525,357 shares of common stock sold to the investor subsequent to June 30, 2025 under the ELOC Purchase Agreement for aggregate gross proceeds to us of $4,087,161; (v)the exchange of 629,873 shares of Series B Preferred Stock that were convertible into 17,897,336 shares of common stock for (a) 894,856 shares of common stock; (b) warrants with an exercise price of $0.01 per share that are exercisable to purchase 8,948,676 shares of common stock at the earlier of (i) the date on which the common stock closes at $1.50 per share or higher during a regular trading day or (ii) the three -month anniversary of the warrant issuance date; and (c) warrants with an exercise price of $0.01 per share that are exercisable to purchase 8,053,804 shares of common stock at the earlier of (i) the date on which the common stock closes at $2.00 per