Heritage Distilling and Story Foundation Announce Launch of $360 Million IP Token Reserve with Participation from Notable Investors Including a16z crypto

According to Jinse Finance, Heritage Distilling Holding Company, Inc. has announced a $220 million private investment in public equity (PIPE) to establish a treasury reserve strategy centered around IP, the native token of the Story network. Heritage will allocate $82 million from the PIPE proceeds to purchase IP tokens from the Story Foundation at a fixed price of $3.40 per token. Following the completion of the transaction, the Story Foundation plans to use 100% of the net cash proceeds from the sale of IP tokens to Heritage to strategically repurchase IP tokens on the open market within no more than 90 days. The Story Foundation is the operating entity behind the Story project, an AI-native blockchain infrastructure targeting the $80 trillion¹ intellectual property economy. This collaboration aims to expand Heritage’s related business activities within the network. Cantor Fitzgerald & Co. and Roth Capital Partners are serving as joint placement agents and financial advisors for this transaction.