Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 413

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 413
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25, 2024, as part of the Series A Preferred Stock offering, the holders of the Series A Preferred Stock had received warrants entitling its holder to purchase an aggregate of 9,850of shares of common stock determined by (a) 25% of the Subscription Amount of such Investor divided by (b) $ 100, and having an exercise price equal to the lesser of $ 100or the price per share at which the common stock is sold in the Company’s Initial Public Offering (the “Exercise Price”), subject to splits, combinations or other like adjustments. Upon the November 25, 2024 initial public offering at $ 80.00per share, the exercise price of the 9,850warrants was fixed at $ 80.00per share. The Warrants expire June 15, 2029. At any time after June 15, 2027, the Warrants shall automatically exercise on a cashless basis if the common stock has traded for 5consecutive trading days at or above 125% of the Exercise Price. F-82

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

NOTE 8 — FAIR VALUE MEASUREMENT

Upon the consummation of the Company’s initial public offering on November 25, 2024, the Notes Payable and Warrant Liabilities in the following table were exchanged and reclassified into equity (see Note 5), and were $ as of December 31, 2024.

| 2022 and 2023 Convertible Notes                     |     | Fair Value        
 Measurement as of 
 December 31,      
 2024              | — |     | December 31, 
 2023         | 36,283,891 |
|:----------------------------------------------------|:----|:------------------|:--|:----|:-------------|-----------:|
| Whiskey Special Ops 2023 Notes                      |     |                   | — |     |              |  1,452,562 |
| Warrant Liabilities 2022 and 2023 Convertible Notes |     |                   | — |     |              |    794,868 |
| Warrant Liabilities Whiskey Special Ops             |     |                   | — |     |              |  1,512,692 |
| Total Liabilities at Fair Value                     |     | $                 | — |     | $            | 40,044,013 |

In November of 2023