Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 368

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 368
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The accompanying notes are an integral part of these consolidated financial statements.

F-55 Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements NOTE 1 — DESCRIPTION OF OPERATIONS AND BASIS OF PRESENTATION Description of operations— Heritage Distilling Holding Company, Inc. (“HDHC” or the “Company”) is a Delaware corporation, for the purpose of investing in, managing, and/or operating businesses that are engaged in the production, sale, or distribution of alcoholic beverages. The Company is headquartered in Gig Harbor, Washington and has onewholly owned subsidiary, Heritage Distilling Company, Inc. (“HDC”), that is included in the consolidated financial statements. HDC has operated since 2011 as a craft distillery making a variety of whiskeys, vodkas, gins and rums as well as Ready -to-Drink(“RTD”) beverages and operates distillery tasting rooms in Washington and Oregon. Initial Public Offering —On November 25, 2024, the Company closed an initial public offering (“IPO”) of 1,687,500shares of common stock at $ 4.00per share. Concurrently, the Company also closed a private offering of 382,205common warrants to purchase shares of common stock with an exercise price of $ 0.01per share at $ 3.99per warrant. (See Note 9.) Subsequent Registration of Common Stock —Subsequent to December 31, 2024, on January 24, 2025, the Company filed a Form S -1Registration Statement under the Securities Act of 1933 to register up to a maximum of 5,000,000shares of common stock and 67,162shares of common stock issuable upon the exercise of the Commitment Warrants of the up to $ 15,000,000aggregate gross purchase price of shares of common stock (the “ELOC Shares”) that have been or may be issued by us to the ELOC Investor (the “Investor”) pursuant to the Securities Purchase Agreement, dated as of January 23, 2025, between the Company and the Investor (the “ELOC Purchase Agreement”), establishing a committed equity facility (the “Facility” or “Equity Line of Credit”). The 67,162shares of common stock issuable to the Investor upon the exercise of a stock purchase warrant with an exercise price of $ 0.001per share (the “Commitment