Company: IPST
Filing Date: 2025-05-21
Form Type: 424B3
Source: 0001641172-25-011934
Chunk: 22

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-21
Form: 424B3
Chunk 22
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ORROWINGS

Borrowings of the Company consisted of the following:

|                     |     |   |      March 
        31, 
       2025 |     |   |   December 
        31, 
       2024 |
|:--------------------|:----|:--|-----------:|:----|:--|-----------:|
| Silverview          
 Loan                |     | $ | 10,382,438 |     | $ | 10,682,438 |
| PPP                 
 Loan                |     |   |  2,269,456 |     |   |  2,269,456 |
| COVID19             
 TTS Loan            |     |   |     39,247 |     |   |     39,247 |
| City                
 of Eugene           |     |   |    389,875 |     |   |    389,875 |
| Total               
 Notes Payable       |     |   | 13,081,016 |     |   | 13,381,016 |
| Less:               
 Debt Issuance Costs |     |   |   -120,835 |     |   |   -140,082 |
|                     |     | $ | 12,960,181 |     | $ | 13,240,934 |

In March and September 2021, the Company executed a secured term loan agreement and an amendment with Silverview Credit Partners, L.P. (the “Silverview Loan”) for an aggregate borrowing capacity of $15,000,000. The Silverview Loan originally matured on April 15, 2025, which was extended to October 25, 2026 as part of the Silverview Loan modification executed on October 1, 2024. The Silverview Loan accrued interest through the 18-month anniversary of the closing date at (i) a fixed rate of 10.0%, which portion was payable in cash, and (ii) at a fixed rate of 6.5%, which portion was payable in kind and added to the outstanding obligations as principal. Effective on the 19 th month anniversary of the closing date, the Silverview Loan accrues interest at a fixed rate of 15.0% through maturity. Interest payable in cash is required to be repaid on the fifteenth day of each calendar month. The Company had an option to prepay the Silverview Loan with a prepayment premium up to 30.0% of the obligations