Company: IPST
Filing Date: 2025-12-23
Form Type: 424B3
Source: 0001213900-25-125341
Chunk: 368

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-23
Form: 424B3
Chunk 368
---
 events identified for disclosure as of the date the condensed consolidated financial statements were available to be issued. Exercise of Common Warrants and Prepaid Warrants —Subsequent to September 30, 2025, 5,000 prepaid warrants and 939 common warrants were exercised for $1,188, leaving 0 prepaid warrants outstanding and 0 common warrants outstanding (including 0 common warrants outstanding of the related party). 2024 Plan Equity Grants — Subsequent to September 30, 2025, the Company made grants of 295,093shares of RSUs under the 2024 Plan. Conversion of Series B Preferred Stock into Common Stock —Subsequent to September 30, 2025, in October 2025, the 15,000shares of Series B Preferred Stock that remained outstanding as of September 30, 2025 were converted into 449,430shares of common stock.

F-52 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 16 — SUBSEQUENT EVENTS (cont.) Deferred Compensation— Beginning in May 2023, certain senior level employees elected to defer a portion of their salary until such time as the Company completed a successful public registration of its stock (which occurred on November 25, 2024). (See Note 8.) As of September 30, 2025, the Company had a balance of $233,547 of the deferred compensation remaining to be paid. Subsequent to September 30, 2025, the Company paid $98,000 of the deferred compensation, leaving a balance of $135,547 remaining to be paid. Restructuring and Closure of Tasting Rooms; Production Transition— On October 23, 2025, the Company announced it would close its five owned and operated tasting rooms in Washington and Oregon effective December 31, 2025, along with the transition of production to third parties contract producers beginning in the first quarter of 2026. These actions are expected to result in significant reductions in net expenses with a resulting positive impact to net income, along with significant reduction headcount and overhead. The elimination of in -houseproduction and the eventual termination of leases associated with operations is also expected to greatly reduced the Company’s unabsorbed overhead expense for every case for product it sells, thereby greatly improving margins. The Company will continue to sell spirits through distributors and direct to consumers online, and will continue to work with Tribes to license the Heritage Distilling Company brand