Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 449

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 449
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, the aggregate principal sum of the related party’s 2022 Convertible Notes was $ 6,311,250with an aggregate cash proceeds of $ 4,675,000(See F-102 Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements NOTE 15 — RELATED-PARTY TRANSACTIONS (cont.) Note 5). Concurrent with the execution of the 2022 Convertible Notes, the Company issued warrants to the related party in an amount equal to 50% of the cash proceeds from the 2022 Convertible Notes (see Note 7). The Company initially allocated the $ 4,675,000aggregate cash proceeds from the related party to the 2022 Convertible Notes and the associated warrants on their respective issuance dates in the aggregate amounts of $ 4,422,379and $ 252,621, respectively. During 2023, the Company issued multiple additional unsecured convertible promissory notes under the terms of the 2022 Convertible Notes (the “2022 Convertible Notes”) to the same related party for a principal sum of $ 3,982,500with cash proceeds of $ 2,950,000(See Note 5). As of November 25, 2024, the fair value of the related party’s 2022 and 2023 Convertible Notes was $ 6,870,236, and was reclassified from a liability to equity upon the effectiveness of the Company’s November 25, 2024 initial public offering, as further discussed below. As of December 31, 2023, the fair value of the related party’s 2022 and 2023 Convertible Notes and warrant liabilities was $ 17,220,203and $ 340,918, respectively. In October 2023, the related party agreed to exchange its then held 2022 and 2023 Convertible Notesfor 85,877shares of common stock. (See Note 5 — Exchange of 2022 and 2023 Convertible Notes.) 2023 Series — Convertible Whiskey Special Ops 2023 Notes As of November 25, 2024, the fair value of the related party Whiskey Special Ops 2023 Notes and warrant liabilities was $ 4,815,132, and was reclassified from a liability to equity upon the effectiveness of the Company’s November 25, 2024 initial public offering, as further discussed below. As of December 31, 202