IPO - Heritage Distilling Holding Company, Inc.

Form Type: CORRESP

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: New

Accession Number: 000121390025008813

Filing Summary: Heritage Distilling Holding Company, Inc. has submitted a request for the declaration of effectiveness for its Registration Statement on Form S-1 (File No. 333-284509). The company is seeking that the registration statement be declared effective on February 4, 2025, at 4:30 p.m. Eastern Time, or as soon thereafter as possible. The request is made in accordance with Rule 461 of the General Rules and Regulations under the Securities Act of 1933, as amended. The communication acknowledges the potential actions that the Commission may take concerning the Registration Statement, emphasizing the company’s responsibility for the accuracy and adequacy of the disclosures within it. Furthermore, the company acknowledges the limits of relying on the Commission’s declaration of effectiveness in any proceedings that may arise. The communication is signed by Justin Stiefel, the Chief Executive Officer of the company, and includes a contact for legal inquiries.

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Form Type: S-1

Filing Date: 2025-01-27

Corporate Action: Ipo

Type: New

Accession Number: 000121390025006695

Filing Summary: Heritage Distilling Holding Company, Inc. filed a Registration Statement on Form S-1 with the SEC for the delayed or continuous offering and sale of securities, allowing the resale of up to 5,000,000 shares of common stock and 67,162 shares issuable upon the exercise of a commitment warrant. These shares are part of a committed equity facility established with C/M Capital Master Fund, LP. The filing indicates that the company is not selling securities directly and will not receive proceeds from the investor's sale of shares under the prospectus. However, the company could garner up to $15 million in gross proceeds from future sales under the equity line of credit. The document outlines the company’s successful performance in the craft spirits industry, its business model focusing on direct-to-consumer sales and collaborations with Native American tribes, and its wide array of award-winning products. The initial public offering of the common stock occurred on November 25, 2024, and the shares are traded on Nasdaq under the symbol 'CASK'. The filing also highlights that investing in shares carries significant risks, and the significant market for craft spirits continues to grow.

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Form Type: 10-Q

Filing Date: 2024-12-27

Corporate Action: Ipo

Type: New

Accession Number: 000121390024113078

Filing Summary: Heritage Distilling Holding Company, Inc. (HDHC), a Delaware corporation, reported financial results for the period ending September 30, 2024. The company is engaged in the production, sale, and distribution of alcoholic beverages and has a wholly owned subsidiary, Heritage Distilling Company, Inc. Despite operating as an emerging growth company, it faces substantial doubt regarding its ability to continue as a going concern due to recurring net losses and negative working capital. For the third quarter of 2024, HDHC reported net sales of $1,761,434, down from $2,088,030 in the same period the previous year. The net loss was $(3,432,931) with an accumulated deficit of approximately $(69.4 million). On November 25, 2024, the company successfully closed an initial public offering of 1,687,500 shares at $4.00 per share. The presentation of the financial statements reflects a .57-for-1 reverse stock split approved earlier in May 2024. In total, liabilities and stockholders' deficit stood at $31,086,736 as of September 30, 2024, with $4,640,883 common shares outstanding as of December 20, 2024.

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