Company: IPST
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001641172-25-009684
Chunk: 232

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-12
Form: 424B3
Chunk 232
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 a time, the Whiskey Notes and related Warrant Liabilities remained on the Company’s balance sheet, and the change in their fair values also continued to be recognized as Other Income/(Expense) in the Company’s Statement of Operations.

Convertible Notes at fair value consisted of the following:

SCHEDULE OF CONVERTIBLE NOTES

| 2022 Convertible Promissory Notes                 |     | December 31, 2024 | — |     | December 31, 2023 |  18,801,206 |   |
|:--------------------------------------------------|:----|:------------------|:--|:----|:------------------|------------:|:--|
| 2023 Convertible Promissory Notes                 |     |                   | — |     |                   |  17,482,685 |   |
| Whiskey Special Ops 2023 Notes                    |     |                   | — |     |                   |   1,452,562 |   |
| Total Convertible Notes Payable                   |     | $                 | — |     | $                 |  37,736,453 |   |
| Less: Convertible Notes Payable, Current          |     |                   | — |     |                   | (36,283,891 | ) |
| Convertible Notes Payable, net of Current Portion |     | $                 | — |     | $                 |   1,452,562 |   |

NOTE 6 — BORROWINGS

Borrowings of the Company, not including the Convertible Notes discussed in Note 5, consisted of the following:

SCHEDULE OF BORROWINGS NOT INCLUDING THE CONVERTIBLE NOTES

|                            |     |   | December 31, 2024 |   |     |   | December 31, 2023 |   |
|:---------------------------|:----|:--|------------------:|:--|:----|:--|------------------:|:--|
| Silverview Loan            |     | $ |        10,682,438 |   |     | $ |        12,250,000 |   |
| PPP Loan                   |     |   |         2,269,456 |   |     |   |         2,269,456 |   |
| COVID19 TTS Loan           |     |   |            39,247 |   |     |   |                 — |   |
| City of Eugene             |     |   |