GIG HARBOR, Wash., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Heritage Distilling Holding Company Inc. (“Heritage” or the “Company”) (Nasdaq: CASK), a leading craft distiller of innovative premium brands, including whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails, today announced the closing of its initial public offering of 1,687,500 shares of common stock at an initial public offering price of $4.00 per share, for gross proceeds of approximately $6.75 million, before deducting underwriting discounts and offering expenses. In addition, Heritage has granted the underwriters a 30-day over-allotment option to purchase up to an additional 253,125 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares began trading on Nasdaq on November 22, 2024 under the symbol “CASK.” Newbridge Securities Corporation acted as the sole book-running manager for the offering. In addition to the shares being sold in the initial public offering, Heritage also closed on the sale of common warrants to purchase an aggregate of 382,205 additional shares of its common stock in a concurrent private placement to certain existing security holders. The common warrants have an exercise price equal to $0.01 per share and were sold for a price per common warrant equal to $3.99, the price per share at which the common stock was sold in the initial public offering less $0.01. The sale of the common warrants were not registered under the Securities Act of 1933, as amended, and as such, the shares issuable upon exercise of the common warrants may not be offered or sold absent registration or an applicable exemption from registration. The gross proceeds to Heritage from the initial public offering and the concurrent private placement, before deducting underwriting discounts and commissions and offering and private placement expenses payable by Heritage, were $8,250,000, excluding any exercise of the underwriters’ option to purchase additional shares of common stock. A registration statement on Form S-1 (File No. 333-279382) relating to the common stock offered and sold in the initial public offering was filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on November 12, 2024. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This initial public offering was made only by means of a prospectus forming part of the registration statement relating to the common stock, which was filed on November 25, 2024 and is available on the SEC’s website at http://www.sec.gov, or may be obtained from Newbridge Securities Corporation, Attn: Equity Syndicate Department, 1200 North Federal Highway, Suite 400, Boca Raton, FL 33432, by email at syndicate@newbridgesecurities.com or by telephone at (877) 447-9625. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Heritage Heritage is among the premier independent craft distilleries in the United States offering a variety of whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage has been the most awarded craft distillery in North America by the American Distilling Institute for ten years in a row out of the more than 2,600 craft producers, plus numerous other Best of Class, Double Gold, and Gold medals from multiple national and international spirits competitions. It is one of the largest craft spirits producers on the West Coast based on revenues and is developing a national reach in the U.S. through traditional sales channels (wholesale, on-premises, and e-commerce) and its unique and recently-developed Tribal Beverage Network (“TBN”) sales channel, which is collaborating with Native American tribes to develop Heritage-branded distilleries, brands, and tasting rooms and to develop brands unique to the tribes, to serve patrons of tribal casinos and entertainment venues, creating compelling social and economic benefits for participating tribal communities while allowing the tribes another channel through which to exercise tribal sovereignty. Forward-Looking Statements This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Any forward-looking statements in this press release are based on Heritage’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These and other risks concerning Heritage’s programs and operations are described in additional detail in its registration statement on Form S-1, which is on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law. CONTACTS: Investors Scott Eckstein heritage@kcsa.com (212) 896 1210 Media Molly Crawford mcrawford@kcsa.com (408) 768 6974
Man City crisis intensifies after Feyenoord produce epic Champions League comeback
And even when the Chicago Bears brain trust decided they no longer could justify keeping Matt Eberflus as head coach of their team, they still waited until he conducted one more news conference — telling us everything was fine and he was preparing for next week’s game against the San Francisco 49ers — before they actually pulled the trigger. Remember, this is an operation worth an estimated $6.4 billion, not a local hardware business trying to decide whether a store clerk should be let go for putting the wingnuts and screws in the wrong aisle. Fittingly, the Bears were the Bears until the last drop. “It’s been a normal operation,” Eberflus said Friday morning on a Zoom call with reporters before being Zoomed out of the NFL. The sad part is the Bears truly believe they are a normal operation when it’s quite obvious they’re the laughingstock of football. Who else would let Eberflus continue to fail time and time again after he repeatedly proved he wasn’t fit for the job. His .304 winning percentage was third-worst in Bears history, ahead of only John Fox (.292) and Abe Gibron (.274). And at least Abe had Melody to help take our minds off all the losing. (Google it, kids.) Eberflus’ days had been numbered since the Hail Mary loss to the Washington Commanders. The 19-3 loss to the lowly New England Patriots on Nov. 10, in which he and his team were booed off the field, would’ve been a perfect time to say sayonara. The Bears had eight games remaining to try to salvage the season, and at 4-5 there was still some hope it could be done. But, no, the McCaskeys don’t fire head coaches in season, we’ve been told a thousand times. Instead they got rid of the sacrificial goat, offensive coordinator Shane Waldron, who was replaced by Thomas Brown . Fans would have to suffer through three more brutal endings before George McCaskey finally got it into his head that this marriage was not going to work. The Thanksgiving Day clock blunder will be remembered as the fatal blow, of course, because we all watched in a collective stupor as the clock ticked down and Caleb Williams kept barking out signals, seemingly oblivious to the fact the game was about to end. Even your Aunt Martha, who doesn’t know a football from a drumstick, was yelling: “What is he doing, for crying out loud?” It made for an unforgettable Thanksgiving, with everyone in the living room calling for Eberflus’ head. Then came the “everything is fine” news conference Friday morning that made it appear as though the Bears were actually trying to gaslight their fans. I’m not sure what made McCaskey agree to change the long-standing policy — whether it was Jimmy Johnson’s rant or a tweet by The Wieners Circle — but whoever it was should get a medal of valor for saving the city from a mass mental breakdown. We all saw this coming, except perhaps the Three Amigos: McCaskey, Warren and Poles . That still doesn’t make it any more palatable. Related Articles Chicago Bears | Matt Eberflus’ Chicago Bears timeline: 32 losses, multiple coach firings and too many late-game missteps Chicago Bears | Chicago Bears fire Matt Eberflus — the 1st time they’ve dismissed a head coach during a season Chicago Bears | Column: In promoting Thomas Brown to interim head coach, are the Chicago Bears putting Caleb Williams’ development at risk? Chicago Bears | Column: After Matt Eberflus’ firing, the onus is on Kevin Warren and Ryan Poles to put the Chicago Bears on the right path Chicago Bears | Another critical breakdown for the Chicago Bears. Brad Biggs’ 10 thoughts on the Week 13 loss on Thanksgiving. The Thanksgiving hangover firing bookends the most famous “hiring” in Bears history, when Mike McCaskey told the media Dave McGinnis would be the head coach before actually informing McGinnis, thus losing both the coach and the rest of his own dwindling credibility. That embarrassing moment would be the lowlight of Mike McCaskey’s career, just as this will be remembered as George’s unshining moment. How will Eberflus be remembered? Was he a poor man’s Pedro Grifol or a poorer man’s Jim Boylen? Until Thursday’s debacle, perhaps the moment that best epitomized the Eberflus era was, during a lopsided loss to the Los Angeles Chargers in October 2023, when he threw the red challenge flag after the Bears scored a meaningless touchdown late in the game. He meant to throw it before the play, but Eberflus was never one to react quickly to any situation. And because there wasn’t any video replay of the actual touchdown, it was no harm, no foul. What comes next for Bears fans is the hard part. Do they trust these executives to hire the right replacement? Almost as much as they trust Mayor Brandon Johnson to manage the city budget . The easiest solution is to throw money at Bill Belichick and see if he bites. If Williams is truly a game-changing quarterback then it makes sense to give the keys to the guy who coached the greatest quarterback of his generation. But making sense is not really the Bears’ thing, so expect them to go for someone they don’t have to give any real power to and will be blander than their last five coaches combined. Someone disposable by 2027. It’s just normal operating procedure at Halas Hall.New bioprinting technique creates functional tissue 10x faster December 3, 2024 Penn State Researchers have developed a novel bioprinting technique that uses spheroids, which are clusters of cells, to create complex tissue. This new technique improves the precision and scalability of tissue fabrication, producing tissue 10-times faster than existing methods. Facebook Twitter Pinterest LinkedIN Email Three-dimensional (3D) printing isn't just a way to produce material products quickly. It also offers researchers a way to develop replicas of human tissue that could be used to improve human health, such as building organs for transplantation, studying disease progression and screening new drugs. While researchers have made progress over the years, the field has been hampered by limited existing technologies unable to print tissues with high cell density at scale. A team of researchers from Penn State have developed a novel bioprinting technique that uses spheroids, which are clusters of cells, to create complex tissue. This new technique improves the precision and scalability of tissue fabrication, producing tissue 10-times faster than existing methods. It further opens the door to developing functional tissues and organs and progress in the field of regenerative medicine, the researchers said. They published their findings in Nature Communications. "This technique is a significant advancement in rapid bioprinting of spheroids," said Ibrahim T. Ozbolat, Dorothy Foehr Huck and J. Lloyd Huck Chair in 3D Bioprinting and Regenerative Medicine and professor of engineering science and mechanics, of biomedical engineering and of neurosurgery at Penn State. "It enables the bioprinting of tissues in a high-throughput manner at a speed much faster than existing techniques with high cell viability." Bioprinting allows researchers to build 3D structures from living cells and other biomaterials. Living cells are encapsulated in a substrate like a hydrogel to make a bioink, which is then printed in layers using a specialized printer. These cells grow and proliferate, eventually maturing into 3D tissue over the course of several weeks. Ozbolat explained that it's like constructing a brick wall where the cells are the bricks and the bioink is the cement or mortar. However, it's difficult to achieve the same cell density as what's found in the human body with this standard approach, Ozbolat said. That cell density is essential for developing tissue that's both functional and can be used in a clinical setting. Spheroids, on the other hand, offer a promising alternative for tissue bioprinting because they have a cell density similar to human tissue. While 3D printing spheroids offers a viable solution to producing the necessary density, researchers have been limited by the lack of scalable techniques. Existing bioprinting methods often damage the delicate cellular structures during the printing process, killing some of the cells. Other technologies are cumbersome and don't offer precise control of the movement and placement of the spheroids needed to create replicas of human tissue. Or the processes are slow. In previously published research, Ozbolat and his colleagues developed an aspiration-assisted bioprinting system. Using a pipette tip, the researchers could pick up tiny balls of cells and place them precisely where they self-assemble and create a solid tissue. However, since the technique involves moving spheroids one at a time, it could take days to build a one cubic centimeter structure. To address these issues, the team developed a new technique called High-throughput Integrated Tissue Fabrication System for Bioprinting (HITS-Bio). HITS-Bio uses a digitally controlled nozzle array, an arrangement of multiple nozzles that moves in three dimensions and allows researchers to manipulate several spheroids at the same time. The team organized the nozzles in a four-by-four array, which can pick up 16 spheroids simultaneously and place them on a bioink substrate quickly and precisely. The nozzle array can also pick up spheroids in customized patterns, which can then be repeated to create the architecture found in complex tissue. "We can then build scalable structures very fast," Ozbolat said. "It's 10-times faster than existing techniques and maintains more than 90% high cell viability." To test the platform, the team set out to fabricate cartilage tissue. They created a one-cubic centimeter structure, containing approximately 600 spheroids made of cells capable of forming cartilage. The process took less than 40 minutes, a highly efficient rate that surpasses the capacity of existing bioprinting technologies. The team then showed that the bioprinting technique can be used for on-demand tissue repair in a surgical setting in a rat model. They printed spheroids directly into a wound site in the skull during surgery, which was the first time spheroids have been printed intraoperatively. The researchers programmed the spheroids to transform into bone using microRNA technology. MicroRNA helps control gene expression in cells, including how cells differentiate into specific types. "Since we delivered the cells in high dosages with this technique, it actually sped up the bone repair," Ozbolat said. After three weeks, the wound was 91% healed after three weeks and 96% healed after just six weeks. The HITS-Bio technique offers an opportunity to create complex and functional tissue in a scalable manner, Ozbolat said. Expanding the number of nozzles could lead to production of larger and more intricate tissues, such as organs and organ tissue like the liver. Ozbolat said that the team is also working on techniques to incorporate blood vessels into the fabricated tissue, a necessary step for producing more types of tissues that can be used clinically or for transplantation. This wasn't an issue with the two applications demonstrated in this study because cartilage has no blood vessels and, in a surgical setting, the surrounding blood vessels could help with blood flow to the bioprinted bone tissue. Other Penn State authors include: Myoung Hwan Kim, doctoral student in biomedical engineering; Yogendra Pratap Singh and Miji Yeo, postdoctoral scholars in engineering science and mechanics; Daniel Hayes, Dorothy Foehr Huck and J. Lloyd Huck Chair in Nanotherapeutics and Regenerative Medicine; and Elias Rizk, professor of neurosurgery at the Penn State College of Medicine. Co-author Nazmiye Celik was a doctoral scholar in engineering science and mechanics at the time of the study and is now a postdoctoral fellow at Johns Hopkins University. Ozbolat, Kim, Singh, Yeo and Hayes are affiliated with the Huck Institutes of the Life Sciences. Ozbolat and Hayes are also affiliated with the Penn State Materials Research Institute. Ozbolat is also affiliated with the Penn State Cancer Institute. Funding from the National institute of Biomedical Imaging and Bioengineering and the National Institute of Dental and Craniofacial Research supported this work. Story Source: Materials provided by Penn State . Original written by Christine Yu. Note: Content may be edited for style and length. Journal Reference : Cite This Page :
