PANews reported on August 25th that Nasdaq-listed Heritage Distilling Holding Company announced the completion of a $223.8 million private placement. The offering, backed by the Story Foundation and other investors including a16z Crypto, Amber Group, Arrington Capital, dao5, Hashed, Mirana Ventures, Neoclassic Capital, Open World, Polychain Capital, Selini Capital, Stix, and Syncracy Capital, was intended to support the launch of an IP token digital asset financial strategy. The transaction was completed on August 15th. As of now, the company holds over 53.2 million Story's native IP tokens, valued at approximately $320 million based on the price on August 22nd.