Company: IPST
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001641172-25-009684
Chunk: 66

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-12
Form: 424B3
Chunk 66
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 with our locations in Eugene, Oregon, including but not limited to:

| ● | The                                                                                          
 legislature or voters in Oregon may elect to privatize the state’s current monopoly-owned    
 retail and distribution system, which would likely materially alter the way in which spirits 
 are distributed and priced in the state and would also change the way we have to market to   
 secure shelf space in stores and in restaurants and bars in order to gain or maintain market 
 share.                                                                                       |
| ● | The                                                                                          
 Oregon Liquor Control Commission (the “OLCC”) may not approve some or all of                 
 our products for listing and sale in the state or in our tasting rooms located in Oregon.    |
| ● | The                                                                                          
 OLCC could deny our request to open additional tasting rooms in the state of Oregon, thereby 
 stranding equipment and capital and materially impacting our plan to generate more retail    
 sales in our own locations.                                                                  |

| 39 |

In the event we begin to acquire, accumulate, hold, store, sell, transfer or otherwise use any cryptocurrencies, there is a risk that rules or regulations could change, impacting the value of any such crypto currencies we hold and our ability to continue to use them or how we recognize, use and value them.

Even though federal and state policies appear to be more accepting of certain cryptocurrency holdings and processes for companies like ours, a federal or state government agency or elected body could alter its stance or regulations on businesses using, accepting and holding cryptocurrencies which could negatively impact our plans, revenue sources, assets or balance sheet. These risks include, but are not limited to, changes in how we must value any cryptocurrencies we hold, which could impact our balance sheet and income statement, or our ability to hold, use or dispose of them. In addition, new forms of taxation on the receipt, accumulation, acquisition, holding, storing, transferring, selling or otherwise using of such cryptocurrencies which could alter, diminish or destroy the value proposition for such cryptocurrencies or how we value any cryptocurrencies we may hold at that time, which could negatively impact our balance sheet or income statement.

Risks Related to Ownership of Our Common Stock

The market price of our common stock may be highly volatile, and you could lose all or part of your investment.

Prior to our initial public offering in November 2024, there was no public market for the shares of our common stock. The offering price for the shares sold in our initial public offering was determined by negotiation between the underwriters and us. Shares of companies offered in an initial public offering