Heritage Distilling Holding Company, Inc. - CASK STOCK NEWS

Heritage Distilling Holding Company (NASDAQ: CASK) has appointed Matt Swann to its Board of Directors, effective January 6, 2025. Swann, a seasoned technology and fintech expert with over 28 years of experience, will also serve as Chairman of the newly formed Technology and Cryptocurrency Committee.

Swann's background includes roles as Chief Technology Officer at NuBank, Vice President at Amazon, CTO for Booking.com and Stubhub, and Chief Information Officer at Citibank. He currently serves as Director at Payfare Inc. and non-executive Director at Thredd Payments. Swann holds a Bachelor of Science degree in Computer Information Systems from Arizona State University.

His appointment aligns with Heritage's strategy to leverage technology for growth, particularly in e-commerce and direct-to-consumer channels. As Chair of the Technology and Cryptocurrency Committee, Swann will oversee technology and cryptocurrency policies, including the implementation of AI and handling of Bitcoin. The Board has also adopted a formal Bitcoin Treasury Position Statement, with plans to develop a Bitcoin Treasury Policy.

CEO Justin Stiefel expressed enthusiasm about Swann's expertise, which spans e-commerce, fintech, digital currencies, and AI, and its potential to drive Heritage's growth and innovation.

Heritage Distilling Company (NASDAQ: CASK) has appointed Michael P. Carrosino as Chief Financial Officer. With over 40 years of finance experience, Carrosino will lead the company's financial planning, operations, and capital market transactions to support expansion strategies.

Carrosino brings extensive expertise in financial management, accounting, public company reporting, fundraising, and M&A from various roles including positions at Tatoosh Distillery, Foss Maritime, The Space Needle, and other companies. The appointment follows recent additions to Heritage's board, including Troy Alstead (former Starbucks COO) and Andrew Varga (former Brown-Foreman CMO).

Heritage Distilling Company (NASDAQ: CASK) has announced two key appointments to strengthen its leadership team. Troy Alstead, former COO of Starbucks, joins the Board of Directors, bringing over two decades of executive leadership experience in global operations. Andrew Varga, with 40+ years in the adult beverage industry, joins as both a Director and Strategic Consultant-Chief Revenue Officer.

Founded in 2011, HDC is recognized as the most-awarded craft distillery of the past decade by the American Distilling Institute. The company operates two production distilleries and seven tasting rooms across Washington and Oregon, offering premium spirits including Cocoa Bomb Chocolate Whiskey and Florescence Vodka. Their products are available in 45 states and Washington, D.C., through Liquid Rails.

Heritage Distilling Company (Nasdaq: CASK) is expanding into the Kentucky market through a partnership with Keg 1 River City. The expansion brings Heritage's premium spirits, including Cocoa Bomb and the Salute Series collection, to Kentucky's on-premise and off-premise retailers.

The Salute Series, launched in November 2023, is a super-premium whiskey collection supporting U.S. military veterans and their families. The program has raised over $130,000 for partner charities in less than a year. The initiative evolved from an initial fundraising effort with 1st Special Forces Group (Airborne) that raised nearly $150,000 for Special Forces-related charities.

Heritage Distilling (NASDAQ: CASK) announces expansion into Western Colorado through partnership with Innermountain Distributing Co. The company will distribute its award-winning spirits portfolio, including Cocoa Bomb, Stiefel's Select, flavored vodkas, and the Salute Series collection. The partnership, led by Innermountain's General Manager and retired Green Beret Heathe Poston, aligns with Heritage's commitment to supporting military veterans. The Salute Series, launched in November 2023, has raised over $130,000 for veteran organizations in less than a year.

Heritage Distilling (Nasdaq: CASK) has completed its initial public offering, selling 1,687,500 shares of common stock at $4.00 per share, raising approximately $6.75 million in gross proceeds. The company also conducted a concurrent private placement of common warrants for 382,205 additional shares at $0.01 exercise price, sold at $3.99 per warrant. The combined gross proceeds from both offerings totaled $8.25 million. Trading began on Nasdaq under symbol 'CASK' on November 22, 2024. The underwriters have a 30-day option to purchase up to 253,125 additional shares.

Heritage Distilling (Nasdaq: CASK), a craft distiller of premium spirits and ready-to-drink cocktails, has announced its IPO pricing of 1,687,500 shares at $4.00 per share, raising approximately $6.75 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to 253,125 additional shares. Trading begins November 22, 2024, under symbol 'CASK'. Additionally, Heritage announced a concurrent private placement of warrants to purchase up to 382,205 shares at $0.01 per share, with total expected gross proceeds from both offerings reaching $8.25 million. Newbridge Securities serves as the sole book-running manager.