Prenetics Announces Oversubscribed Approximately $48 Million Equity Offering with Potential for $216 Million in Total Proceeds to Fuel IM8’s Global Expansion and Bitcoin Treasury Strategy

Core Insights - Prenetics Global Limited has successfully priced a public offering of approximately $48 million, involving 2,992,596 Class A ordinary shares and warrants [1][2] - The company aims to leverage its rapid growth in the health supplement sector, particularly through its brand IM8, which achieved $100 million in annual recurring revenue within 11 months of launch [5][21] - Prenetics is strategically focusing on its IM8 brand while considering divestment of other business units to maximize shareholder value [7] Financial Overview - The offering includes a double warrant structure, with Class A and Class B warrants exercisable at premiums of 50% and 100% respectively, potentially raising total proceeds to approximately $216 million if fully exercised [2] - IM8 is projected to generate revenues between $160 million and $200 million in 2026, with a current monthly revenue run rate of over $8.6 million [15][13] - Following the offering, Prenetics will hold approximately $100 million in cash and 275 BTC valued at $31 million, totaling $131 million in liquidity [16] Strategic Partnerships - The offering was supported by notable investors including Kraken, American Ventures, and Jihan Wu's GPTX, enhancing Prenetics' strategic positioning in the cryptocurrency and health sectors [3][6] - Aryna Sabalenka, a world-renowned tennis champion, has increased her stake in Prenetics, further aligning her brand with the company's mission [4][8] Market Positioning - IM8 is recognized as the fastest-growing supplement brand globally, with significant traction across multiple markets, targeting a share of the $704 billion global supplements market expected by 2030 [5][21] - The company is pioneering a Bitcoin treasury strategy, purchasing 1 BTC daily, which positions it at the intersection of health innovation and digital assets [22]