DivestmentMay 4, 2026, 08:37 AM
Prenetics Global to Divest All 510 Bitcoin Holdings for ~$40M
AI Summary
Prenetics Global Ltd's Board has authorized the complete divestment of its approximately 510 Bitcoin treasury holdings, expecting gross proceeds of around $40 million based on recent market prices. The company will not purchase digital assets in the future, focusing its capital allocation on its core IM8 consumer health business. Proceeds will fund potential expansion of its share repurchase program, accelerate IM8 marketing, expand product pipeline, and support international market penetration, aiming for $145 million to $150 million in cash and equivalents post-divestment.
Key Highlights
- Board authorized complete divestment of approximately 510 Bitcoin holdings.
- Expected gross proceeds of approximately $40 million from the Bitcoin sale.
- Company adopted a policy to not purchase Bitcoin or any other digital assets in the future.
- Proceeds to fund potential expansion of the existing $40 million share repurchase program.
- Proceeds also allocated for IM8 direct-to-consumer marketing, product pipeline expansion, and international market penetration.
- IM8 business targets $180 million to $200 million in full-year FY2026 revenue.
- Company expects $145 million to $150 million in cash and equivalents post-divestment.