IP Strategy Holdings, Inc. (IPST), formerly known as Heritage Distilling Holding Company, Inc., Thursday announced that its board has authorized a share repurchase program to buy back up to 1 million shares of its outstanding shares of common stock through December 31, 2026.
CEO Justin Stiefel noted that the program along with the previously-announced streamlining and cost reduction plans for 2026 reflects a very high degree of confidence in the company's long-term strategy and growth potential.
Stiefel added, "The Board's decision to authorize a share repurchase program reflects its belief that the market does not currently take into account the inherent value of our 53.2 million $IP tokens, nor the growth in higher-margin recurring revenue anticipated in 2026 from the transition to third-party custodied validator services."
In the pre-market hours, IPST is falling 5.67 percent, to $0.7499 on the Nasdaq.
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