Prenetics tumbles on $48 mln stock-and-warrants offering to expand, buy bitcoin

Prenetics Global

27/10/2025 14:07

Updates with pricing details

    ** Shares of health sciences co Prenetics Global PRE.O down 17.1% at $13.90 early Mon after equity offering priced

    ** Hong Kong-headquartered PRE announces~2.99 mln shares (or
    pre-funded warrants) and accompanying 5-yr warrants at $16.08 for approx $48 mln gross proceeds

    ** Offering price represents 4.1% discount to stock's last sale on Fri

    ** Class A Warrants have exercise price of $24.12, and Class B Warrants have exercise price of $32.16

    **
    PRE plans to use offering proceeds for global expansion of its nutritional supplement, IM8, and buy more bitcoin BTC=

    ** In Feb, co announced genetic testing partnership with Humanity Protocol, a decentralized identity verification firm, and launched cryptocurrency treasury reserve strategy

    ** Co has about 14 mln shares outstanding, per the prospectus, giving it roughly
    $235 mln market cap through Fri

      **
      Dominari Securities acting as sole placement agent for offering

    ** Through Fri close, PRE shares roughly doubled over the past three months. Stock ended 2024 at $5.80

    ** PRE debuted in 2022 after merger with Artisan Acquisition Corp, which was backed by Hong Kong tycoon Adrian Cheng

    **
    Earlier this month,
    Dominari Holdings DOMH.O, backed by the sons of U.S. President Donald Trump, said its financial advisory business was cleared to lead IPOs on the NYSE

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))