Bitcoin News Today: Prenetics' $48M Raise Sparks Debate: Health Innovation vs. Bitcoin Volatility

Prenetics (NASDAQ: PRE) has launched a $48.0 million equity offering to accelerate the global expansion of its health supplement brand IM8 and bolster its Bitcoin treasury strategy. The Hong Kong-based health sciences company priced the deal on October 27, 2025, selling 2,992,596 Class A ordinary shares (or pre-funded warrants) alongside Class A and B common warrants at $16.08 per unit, generating gross proceeds before fees and expenses, according to a StockTitan report. The Class A warrants carry a $24.12 exercise price (a 50% premium to the offering price), while Class B warrants have a $32.16 exercise price (a 100% premium), with both exercisable immediately and expiring in five years, the StockTitan report said.

The proceeds will fund IM8's expansion, which has seen explosive growth—reaching $100 million in annual recurring revenue within 11 months of launch—and Bitcoin accumulation under Prenetics' dual "health-and-wealth" strategy, according to the StockTitan report. The company, now holding 275 Bitcoin (BTC) as of October 27, 2025, aims to continue purchasing 1 BTC daily. The offering, expected to close on October 28, 2025, was underwritten by Dominari Securities, a firm backed by the sons of U.S. President Donald Trump, according to a Reuters report.

The market reaction to the offering has been mixed. Shares of Prenetics fell 15.1% in premarket trading to $14.23 on October 27, 2025, despite the stock having nearly doubled over the past three months, per the Reuters report. Analysts note the offering could dilute existing shareholders, as the new shares and warrants represent a significant increase in the company's 14 million outstanding shares. Risks include potential dilution if the warrants are exercised and uncertainty around Bitcoin's price volatility, which could impact the company's treasury strategy, the StockTitan report added.

Prenetics has emphasized its commitment to transparency, stating that the final prospectus supplement will disclose exact placement agent fees and BTC purchase mechanics. The offering is part of an effective Form F-3 shelf registration declared by the SEC on September 11, 2025, as disclosed in a GlobeNewswire release, allowing the company to proceed swiftly given favorable market conditions.

The company's innovative approach—combining health innovation with digital assets—has drawn attention in the consumer health sector. IM8, co-founded with David Beckham and endorsed by tennis star Aryna Sabalenka, is now the fastest-growing supplement brand globally, the StockTitan report noted. Meanwhile, Prenetics' Bitcoin strategy positions it as a pioneer in corporate crypto adoption, though critics caution against the speculative risks of tying corporate value to volatile assets.