BlockBeats news, on August 11, according to businesswire, Heritage Distilling Holding Company (NASDAQ: CASK) announced today the completion of a $220 million private financing ($100 million in cash and $120 million in IP tokens). This round of financing was participated in by the Story Foundation and institutions such as a16z crypto and Amber Group, aimed at launching the world's first IP token digital asset financial strategy.
This transaction adopts a 'equity + token' hybrid PIPE structure. Heritage will raise $100 million in cash through the issuance of common stock and warrants, while receiving IP tokens from institutions such as the Story Foundation at a fixed price of $3.40 per share. After the transaction is completed, the company's reserve will hold approximately 52.5 million IPs (valued at $361 million based on the closing price of $6.8785 on August 10, 2025).
