Nasdaq-listed health sciences firm Prenetics Global has secured $48 million in an oversubscribed equity round to accelerate its bitcoin treasury strategy and expand its supplement brand IM8.
In a statement released Monday, Prenetics said that the latest offering attracted a group of crypto-focused investors, including Kraken, Exodus, GPTX by Jihan Wu, DL Holdings, and American Ventures.
Other investors, tennis player Aryna Sabalenka and Hong Kong tycoon Adrian Cheng, both increased their stake in the company. Prenetics’ shareholders also include football legend David Beckham.
The gross proceeds from the offering are expected to be around $48 million. The offering could potentially generate up to $216 million in total proceeds if all warrants are exercised, the company said.
BTC and Supplements
Prenetics CEO Danny Yeung said the new capital will “accelerate IM8’s global expansion while advancing our disciplined Bitcoin treasury initiatives.”
In June, Prenetics announced a bitcoin treasury initiative, beginning a “daily 1 BTC accumulation” strategy on Aug. 1. The company’s current holdings include approximately 275 BTC, valued at $31 million as of Oct. 27. Following the latest offering, Prenetics expects to hold total liquidity of around $131 million.
Meanwhile, IM8 is the company’s supplement brand it co-founded with Beckham. IM8 achieved $100 million in recurring revenue within 11 months of launch and is projected to deliver revenues of between $160 million and $200 million in 2026, according to Prenetics.
“[Our] long-term ambition is bold yet realistic: to reach $1 billion in annual revenue alongside $1 billion in Bitcoin holdings within the next five years,” said Yeung.
Prenetics’ stock fell 21.96% to close at $13.08 on Monday but rebounded 4.51% in after-hours trading, according to Yahoo Finance data. The stock dropped 19.46% over the past five days but remains up 161.6% over the past six months.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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