Company: IPST
Filing Date: 2025-12-23
Form Type: 424B3
Source: 0001213900-25-125341
Chunk: 351

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-23
Form: 424B3
Chunk 351
---
 Warrants were as follows:

| Weighted Average Expected Volatility                                         |     |             70% |
| Expected Dividends                                                           |     |              —% |
| Weighted Average Expected Term (in years)                                    |     |               5 |
| Risk-Free Interest Rate                                                      |     |           4.22% |
| Probability Scenarios of meeting contingencies                               |     |                 |
| Shareholder holds shares owned on May 31, 2023 through warrant exercise date |     |      95% to 75% |
| Common stock attains a specified 10-Trading-Day VWAP price before expiring   |     | 0.025% to 2.25% |

F-41

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 8 — STOCKHOLDERS’ EQUITY / (DEFICIT) (cont.) As of September 30, 2025, there were outstanding and exercisable: 31,272 $160 Contingent Legacy Shareholder Warrants; 62,544 $240 Contingent Legacy Shareholder Warrants; and 78,180 $400 Contingent Legacy Shareholder Warrants, (of which 0; 0; and0, respectively were to a related party) with weighted -averageremaining contractual terms of 1.33 years, 2.83 years, and 4.59 years, respectively. Whiskey Note Shareholder Warrants— On April 1, 2025, the Company issued warrants with an expiration date of April 1, 2028 to purchase 44,207shares of common stock with an exercise price of $80 per share to common shareholders of record who acquired their common stock through the exchange of Whiskey Notes and whose shares were subject to 100% lockup for 6 months post -IPO, (the “Whiskey Note Shareholder Warrants”). The Whiskey Note Shareholder Warrants will be exercisable if the warrant holder continuously holds all shares of common stock such holder owned on the date of the Company’s IPO through the date the warrant is exercised, and then only if the common stock attains a specified volume weighted average price of $160 per share (“VWAP”) over a 10 - trading-dayperiod (the “10 - Trading-DayVWAP”) before expiring. The Company recorded the fair value of the Whiskey Note Shareholder Warrants