Nasdaq-listed health sciences company Prenetics has completed an oversubscribed equity offering that attracted crypto-focused investors, including Kraken, Exodus, and GPTX by Jihan Wu, raising $48 million to fund its Bitcoin treasury expansion and IM8 supplement brand growth. DL Holdings and American Ventures also participated in the round. Tennis player Aryna Sabalenka and Hong Kong tycoon Adrian Cheng both increased their existing stakes in the company during the offering. The offering could generate up to $216 million in total proceeds if all warrants are exercised, Prenetics stated Monday. The company expects total liquidity of around $131 million following the raise. Prenetics launched its Bitcoin treasury initiative in June and began a daily 1 Bitcoin accumulation strategy on Aug. 1. The company currently holds approximately 275 Bitcoin valued at $31 million as of Oct. 27.
CEO Danny Yeung said the capital will accelerate IM8’s global expansion while advancing the company’s Bitcoin treasury initiatives. He outlined a five-year goal to reach $1 billion in annual revenue alongside $1 billion in Bitcoin holdings. IM8, the supplement brand Prenetics co-founded with football legend David Beckham, achieved $100 million in recurring revenue within 11 months of launch. The company projects that the brand will generate between $160 million and $200 million in revenues for 2026. Prenetics’ stock fell 21.96% Monday to close at $13.08 but rebounded 4.51% in after-hours trading. The stock has dropped 19.46% over the past five days but remains up 161.6% over the past six months. Beckham remains among the company’s shareholders alongside the new crypto-focused investors. Yeung described the long-term ambition as “bold yet realistic,” emphasizing the dual focus on traditional business growth and cryptocurrency asset accumulation.