Heritage Distilling raises $220M PIPE to adopt $IP token as primary treasury reserve

IP STRATEGY HOLDINGS, INC.

PIPE priced at $0.6043/share; pre-funded warrants at $0.6042; total gross proceeds ~$223.8M.
At least $80M to buy $IP tokens from Story Foundation at $3.40; Story to repurchase $IP with proceeds.
Company to adopt $IP as primary treasury reserve asset; first Nasdaq-listed company to do so.
Investors include a16z crypto, Amber Group, Arrington Capital, Polychain Capital, and others.
Closing expected Aug 13, 2025; stockholder meeting required by Sep 30 for approvals.

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