Heritage Distilling Invests $360 Million in Story Tokens, Aiming for IP-Centric Expansion

US-based Heritage Distilling Holding Company, Inc. has partnered with the Story Foundation to invest $360 million into a new token reserve strategy. The funding will be provided through a $220 million PIPE investment and include both cash and tokens. The company is acquiring 52.5 million IP tokens, making them their primary reserve asset. $82 million from the PIPE financing will be allocated to purchase IP tokens from the Story Foundation at a fixed price of $3.40 per token.