Heritage Distilling Holding Company, Inc. announced a $220 million private equity financing (PIPE) to build a fiscal reserve strategy centered on IP, the Story Network's native token.
Heritage will set aside $82 million from its private equity financing (PIPE) proceeds to purchase IP tokens from Story Foundation at a fixed price of $3.40 per IP token. Story Foundation plans to use 100% of its net cash proceeds from the sale of IP tokens to Heritage to strategically repurchase IP tokens on the public market within a period of no more than 90 days after the transaction closes.
Story Foundation is the operating body of Project Story, an AI-native blockchain infrastructure for the $80 trillion ¬ IP economy. The partnership aims to expand Heritage's business activities in the network.
The transaction is being handled by Cantor Fitzgerald & Co. and Roth Capital Partners as joint placement agents and financial advisors.
Heritage Distilling and Story Foundation Announce Launch of $360 million IP Token Reserve with Participation of Renowned Investors such as a16z Crypto
2025-08-12 23:53:01
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