Prenetics, backed by David Beckham, raised $48 million in an equity round to expand wellness brand IM8 and advance bitcoin treasury strategy. Total proceeds could reach $216 million through warrant exercises. Investors included Kraken, Exodus, GPTX, and American Ventures. CEO aims for $1 billion in revenue and bitcoin within 5 years.

Prenetics joins healthcare companies pursuing a bitcoin treasury trend, holding 268.4 BTC ($30.9 million). Shares traded nearly 15% lower in pre-market at $13.80. CEO Danny Yeung plans to scale IM8 globally and accumulate 1 BTC daily. Goal is to reach $1 billion in revenue and bitcoin within 5 years.

Read more at Yahoo Finance: David Beckham-Backed Prenetics Raises $48M to Advance Bitcoin Treasury