Heritage Distilling Co. Goes Public with NASDAQ Listing and IPO

Heritage Distilling Co. Announces IPO and NASDAQ Listing

Heritage Distilling Holding Company Inc. is taking a significant leap forward as it announces the pricing of its initial public offering (IPO). This move marks a pivotal moment for the company, well-known for crafting innovative premium spirits, such as whiskeys, vodkas, gins, rums, and ready-to-drink cocktails. With an IPO price set at $4.00 per share for a total of 1,687,500 shares, Heritage aims to raise approximately $6.75 million before underwriting discounts and offering expenses.

Trading Begins on NASDAQ

The company’s shares are expected to commence trading on NASDAQ under the ticker symbol "CASK". This is an exciting time for Heritage, as the shares are set to hit the market. The anticipated close of the offering is also expected soon thereafter, pending the fulfillment of standard closing requirements.

About the Offering

Newbridge Securities Corporation is leading the offering as the sole book-running manager. This IPO isn't just about the immediate revenue but also sets the stage for future growth. In addition to the shares from the IPO, Heritage has announced a concurrent private placement. This arrangement involves common warrants that allow the purchase of up to 382,205 additional shares for a minimal exercise price, providing existing shareholders with further investment opportunities.

Craft Distillery with a Vision

Heritage isn’t just about numbers; it’s about the passion for crafting quality spirits. As one of the premier independent craft distilleries in the United States, Heritage boasts numerous accolades from prestigious competitions. The American Distilling Institute has named it the most awarded craft distillery in North America for ten consecutive years, standing out among over 2,600 producers.

Innovative Sales Channels

Heritage is expanding its reach across the U.S. through diverse sales channels, including wholesale, e-commerce, and its unique Tribal Beverage Network. This innovative initiative collaborates with Native American tribes, developing Heritage-branded distilleries and tailored brands for tribal patrons, fostering both economic benefits and respect for tribal sovereignty.

Financial Insights

The total projected gross proceeds for Heritage from this IPO and the private placement is estimated at $8,250,000. This robust financial backing is vital for Heritage’s future endeavors and expanding its footprint in the competitive craft beverage space.

Registration Statement

A registration statement related to this IPO has been filed with the U.S. Securities and Exchange Commission (SEC) and has already become effective. This allows potential investors and interested parties to assess the company's financial and operational health as they consider investing.

Contact Information

For investors and media inquiries, Heritage has provided contact information to allow open communication. Investors can reach Scott Eckstein, while media inquiries can be directed to Molly Crawford. This outreach emphasizes the company's commitment to transparency and engagement with its stakeholders.

Frequently Asked Questions

What is the IPO price for Heritage Distilling Co. shares?

The IPO price is set at $4.00 per share.

Under which ticker symbol will Heritage shares trade on NASDAQ?

Heritage shares will trade under the ticker symbol "CASK".

How many shares are being offered in the IPO?

A total of 1,687,500 shares of common stock are being offered.

What are the expected closing dates for the offering?

The offering is expected to close on a date that satisfies customary closing conditions, with the close anticipated around the end of November.

What types of spirits does Heritage produce?

Heritage Distilling produces a variety of spirits including whiskeys, vodkas, gins, rums, and ready-to-drink canned cocktails.

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