Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 239

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 239
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20,008,457 |   |     | $               | 21,112,934 |     | $                              | 1,612,322 |     | $                   |    567,050 |   |

There were no financial instruments for which fair value is determined using Level 3 inputs for the three months ended March 31, 2025.

NOTE 7 — STOCKHOLDERS’ EQUITY / (DEFICIT)

On May 11, 2024, the Board and Stockholders of the Company approved, and on May 14, 2024 the Company effected, a .57-for-1 reverse stock split. All share and per share numbers included in these condensed consolidated financial statements as of and for all periods presented reflect the effect of that stock split unless otherwise noted.

On November 25, 2024, the Company consummated its initial public offering (“IPO”) whereby it sold a total of 1,687,500shares of common stock, at an offer price of $ 4.00per share. The Company received net proceeds from the IPO of $ 5,960,000after deducting underwriting expenses and commission of $ 790,000.

Concurrent with the closing of the IPO on November 25, 2024, the Company consummated a private offering, to certain of its existing security holders, of common stock warrants to purchase an aggregate of up to 382,205shares of common stock (the “Common Warrants”) at an exercise price of $ 0.01per share. The Common Warrants were sold in such private placement for a purchase price of $ 3.99per Common Warrant, which was equal to the $ 4.00price per share at which the common stock was sold in the IPO offering less the $ 0.01exercise price. The Company received net proceeds from the private offering of Common Warrants of $ 1,397,998after deducting underwriting discounts and commission of $ 127,000. The Common Warrants are immediately exercisable and will expire five yearsfrom the date of issuance. Subject to limited exceptions, a holder of Common Warrants will not have the right to exercise any portion of its Common Warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or, at the election of the holder, 9.99%) of the number of shares of common stock outstanding immediately after giving effect to such exercise