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Heritage Distilling Expands Treasury with $320M in Story IP Tokens
Heritage Distilling Expands Treasury with $320M in Story IP Tokens
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BTCCSquare news:
Heritage Distilling, a Nasdaq-listed craft distillery, has bolstered its treasury with over $320 million worth of Story Protocol IP tokens. The company recently acquired 23.5 million tokens, bringing its total holdings to 53.2 million. This move aligns with a growing trend of public companies integrating crypto assets into their treasury strategies.
The $223.8 million private placement included $95 million in cash and $128.8 million in IP tokens, backed by Story Foundation and a16z crypto. Heritage also cleared $19 million in debt, strengthening its balance sheet for future growth in both the spirits and IP economies.
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