Public company Heritage Distilling completes $220 million financing to establish IP token reserves

according to businesswire, Nasdaq-listed company Heritage Distilling announced the completion of a $220 million financing, with participation from a16z crypto, Amber Group, Arrington Capital, dao 5, Hashed, Mirana Ventures, Neoclassic Capital, Open World, Polychain Capital, Selini Capital, Stix, and Syncracy Capital.

The company will allocate $82 million to purchase IP tokens to establish an IP token reserve.