Prenetics(US:PRE) Globenewswire·2026-01-05 13:00Core Viewpoint - Prenetics Global Limited has announced an update to its voluntary warrant exchange program, which aims to reduce potential dilution and simplify its capital structure [1][6]. Participation and Impact - In the October 2025 financing round, 2,722,642 Class A ordinary shares were issued, resulting in a total of 5,445,284 warrants (one Class A and one Class B warrant for each share) [2]. - As of the announcement date, 4,720,832 of the total warrants have been covered by exchange agreements, indicating approximately 86.7% participation, an increase from 83.4% [3]. - The exchange is expected to result in approximately 2.36 million Class C warrants being issued in exchange for the Class A and Class B warrants [4]. Warrant Exchange Details - Post-exchange, the total number of outstanding warrants (Class A, Class B, and Class C) is projected to be around 3.08 million, reflecting a reduction of approximately 43.3% from the original Class A and Class B warrants issued [5]. - The dilutive impact of the new warrants on the total outstanding shares is estimated to be about 18.3%, down from 32.3% [5]. Strategic Benefits - The company believes that the increased participation in the warrant exchange will enhance the investability of its ordinary shares and simplify its capital structure [6]. Warrant Exchange Terms - The exchange agreements stipulate that the company can exercise its forced-redemption right only after the registration statement on Form F-3 is effective and if the Class A ordinary shares trade at or above 120% of the exercise price ($21.60) for ten consecutive trading days [7]. - All eligible warrant holders were offered identical terms for participation in the exchange [8]. Company Overview - Prenetics is a leading health sciences company known for its IM8 brand, which has achieved over $100 million in annual recurring revenue within 11 months of launch, marking the fastest growth in the supplement industry [9].