Prenetics announces $48M ‘best efforts’ public offering

Prenetics (PRE) Global announced the successful pricing of a best efforts public offering of (i) 2,992,596 Class A ordinary shares, par value $0.0015 per share, of the company,, (ii) warrants of the company to purchase up to 2,992,596 Ordinary Shares , and (iii) warrants of the company to purchase up to 2,992,596 Ordinary Shares at a combined offering price of $16.08 per Share and the associated Common Warrants. The gross proceeds to the company from the offering are expected to be approximately $48M, before deducting placement agent fees and offering expenses. The Class A Common Warrants will have an exercise price of $24.12 per Ordinary Share. The Class B Common Warrants will have an exercise price of $32.16 per Ordinary Share. Each of the Common Warrants will be immediately exercisable upon issuance for a period of five years following the date of issuance. The company intends to use the proceeds from the Offering for the global expansion of IM8, driven by its explosive growth, and the strategic accumulation of Bitcoin as part of its pioneering dual-pronged health and wealth strategy. All of the Shares and associated Common Warrants are being offered by the company. The offering is expected to close on October 28, subject to satisfaction of customary closing conditions. Dominari Securities acted as the sole placement agent for the Offering.