U.S.-listed Prenetics raises $48 million to accumulate Bitcoin

Son Min

Summary

Prenetics Global said it raised $48 million to accumulate Bitcoin.
The stock offering included crypto-focused investors and was oversubscribed.
Prenetics emphasized that its goal is to accumulate $1 billion worth of Bitcoin within five years.

Nasdaq-listed health science company Prenetics Global raised $48 million to accumulate Bitcoin (BTC).

On the 28th (local time), The Block reported that Prenetics said it raised $48 million to accumulate Bitcoin and to accelerate growth of its dietary supplement brand 'IM8'. This week's share issuance was oversubscribed (over-subscribed), with crypto-focused investors such as Kraken, Exodus, Jihan Wu's GPTX, DL Holdings, and American Ventures participating.

If all related warrants are exercised, it is expected to secure up to $216 million in funds.

Danny Yeung, Prenetics CEO, said, "This investment will be used to accelerate IM8's global expansion and at the same time to pursue a more systematic Bitcoin treasury strategy," and emphasized, "The goal is to accumulate $1 billion worth of Bitcoin within five years."

BTC