Nasdaq-Listed Healthcare Company Prenetics Secures $48M to Boost Bitcoin Treasury Strategy
Nasdaq-listed Prenetics Global is making headlines by raising $48 million in an oversubscribed equity round, aimed at bolstering its Bitcoin treasury strategy and expanding its rapidly growing IM8 supplement brand.
Key Highlights:
– Funding Success: Prenetics secured $48 million, led by a diverse group of investors from both traditional finance and the cryptocurrency sector.
– IM8 Brand Expansion: The capital will facilitate the international growth of the IM8 supplement brand, co-founded with celebrity David Beckham.
– Ambitious Revenue Goals: The company aims to achieve $1 billion in annual revenue and accumulate $1 billion in Bitcoin holdings over the next five years.
– Investor Interest: Among the notable investors are Kraken, Exodus, Jihan Wu’s GPTX, DL Holdings, and American Ventures. Celebrity investors such as Aryna Sabalenka and Adrian Cheng have also increased their participation.
– Potential for Increased Capital: Prenetics could potentially raise up to $216 million if all warrants are utilized.
– Bitcoin Accumulation Strategy: Since launching its “1 BTC per day” initiative on August 1, Prenetics has acquired about 275 BTC, valued at approximately $31 million as of October 27. After this funding round, total liquidity is expected to reach around $131 million.
– IM8 Revenue Performance: IM8 has garnered substantial success, reporting $100 million in recurring revenue within its first 11 months. Projections for revenue in 2026 range between $160 million and $200 million.
Despite the announcement, Prenetics’ stock experienced a decline of 21.96%, closing at $13.08 before rallying with a 4.51% increase during after-hours trading. The shares have seen significant volatility but increased over 160% in the past six months, reflecting heightened investor enthusiasm for Prenetics’ unique approach to healthcare and Bitcoin treasury management.
In conclusion, Prenetics’ strategic focus on expanding its supplement brand and enhancing its Bitcoin treasury strategy underscores its commitment to innovative growth. With ambitious targets and strong investor backing, the company is poised for potential breakthroughs in both healthcare and cryptocurrency sectors.