UPDATE (Oct. 27, 14:35 UTC): Prenetics has revised their figures during the live announcement, amending the $46.8 million and $212 million to $48 million and $216 million respectively.
Prenetics (PRE), the health science firm endorsed by David Beckham, has successfully secured $48 million in an oversubscribed equity round aimed at enhancing its wellness brand IM8 and progressing its bitcoin treasury initiative.
Total funds could potentially reach $216 million via warrant exercises, according to Prenetics’ announcement sent via email on Monday.
This funding round attracted investors including Kraken, Exodus (EXOD), GPTX, and American Ventures.
CEO Danny Yeung stated that the investment will facilitate the global scaling of IM8 — which achieved $100 million in annual recurring revenue within just 11 months — while also acquiring 1 BTC daily towards a target of $1 billion in revenue and bitcoin within five years.
Prenetics became part of a growing number of healthcare companies exploring a bitcoin treasury strategy earlier this year, with its first purchase made in June.
Currently, the Hong Kong-based company holds 268.4 BTC valued at approximately $30.9 million, based on figures from Bitcoin Treasuries.
PRE shares declined nearly 15% in pre-market trading on Monday, priced at $13.80.
