Heritage Distilling $220M Raise Dey Fuel $360M IP Token Reserve
Heritage Distilling (NASDAQ: CASK) don raise $220 million for private placement to build one new $360 million IP token reserve. The deal get $82 million for direct buy 52.5 million IP tokens at $3.40 each, plus $100 million through common stock and warrants. This blockchain IP reserve backed by Story Protocol, a16z Crypto, and Polychain na first time for one US listed company to use tokenized intellectual property as e main treasury reserve. Story Protocol go reinvest all net profit within 90 days to buy back IP tokens for open market, support token liquidity and market alignment. This IP token reserve and digital asset treasury strategy aim open new revenue streams, improve financial flexibility, and grow Heritage Distilling investor base. IP token dey trade at $6.09, down 12% for 24 hours but up 36% for 30 days, with $1.8 billion market cap, 16% below February peak. Cantor Fitzgerald and Roth Capital Partners na joint placement agents, Open World na strategic advisor.
Bullish
Big big backing from Story Protocol, a16z Crypto and Polychain, plus $220M fundraising and promise to buy all net proceeds back within 90 days, dey show say demand strong and e dey boost token liquidity well well. Even though IP token price drop 12% for 24 hours because market dey shake, the launching of $360M IP token reserve through digital asset treasury dey give solid support. Short-term market wahala fit still dey as market dey balance, but the buyback program and trust wey institutions get suggest say price fit rise medium to long term, so overall e purely bullish.