Prenetics Raises $48 Million to Expand Bitcoin Treasury and Mark IM8
- Investment strengthens Bitcoin treasury strategy
- IM8 grows with support from David Beckham
- Target includes $1 billion in BTC in the coming years
Nasdaq-listed Prenetics Global, known for its healthcare operations, guaranteed $48 million in a new round of capital to expand its bitcoin-based treasury initiative and accelerate the growth of its IM8 supplement brand, co-founded with former footballer David Beckham.
The round saw strong participation from cryptocurrency investors such as Kraken, Exodus, GPTX by Jihan Wu, DL Holdings, and American Ventures. According to the company, the offering could raise up to $216 million if all related warrants are exercised.
The initiative marks a significant step forward in the company's BTC accumulation strategy. In August, Prenetics initiated a daily purchase policy of 1 BTC as part of its long-term vision of holding digital assets with appreciation potential. The portfolio currently includes approximately 275 BTC, valued at approximately $31 million at the end of October.
Danny Yeung, CEO of Prenetics, stated that the new capital "will accelerate IM8's global expansion while advancing our disciplined Bitcoin treasury initiatives." He also reinforced that the company maintains lofty ambitions:
"Our long-term ambition is bold but realistic: to reach $1 billion in annual revenue plus $1 billion in Bitcoin assets within the next five years."
IM8, a brand developed in partnership with Beckham, quickly scaled, reaching $100 million in recurring revenue less than a year after its launch. Internal projections indicate that sales could reach between $160 million and $200 million by 2026, further boosting Prenetics' position in the wellness and nutrition sector.
While the treasury is advancing with bitcoin as a strategic asset, the company's stock performance remains volatile. The shares closed the previous session at $13,08, a drop of almost 22% on the day, despite a partial recovery after the close. However, the balance of recent months points to a significant appreciation of over 160% in six months.
By combining health technology, highly appealing supplements, and cryptocurrency-focused financial management, Prenetics seeks to consolidate a hybrid business model that connects distinct markets under a common growth proposition.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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