CORRECTION (October 27, 14:35 UTC): Prenetics updated its numbers when the announcement was live: correcting the $46.8 million and $212 million to $48 million and $216 million respectively.
Prenetics (PRE), the David Beckham-backed health sciences company, has raised $48 million in an oversubscribed capital round to expand its IM8 wellness brand and advance its bitcoin treasury strategy.
Total revenue could reach $216 million through collateral exercises, Prenetic said in an emailed announcement Monday.
The round included investors such as Kraken, Exodus (EXOD), GPTX and American Ventures.
CEO Danny Yeung said the funds will help IM8, which reached $100 million in annual recurring revenue in 11 months, scale globally while accumulating 1 BTC daily toward a goal of $1 billion in revenue and bitcoins within five years.
Prenetics joined a growing group of healthcare industry companies seeking a bitcoin treasury earlier this year and made its first purchase in June.
Currently, the Hong Kong-based company owns 268.4 BTC ($30.9 million), according to Bitcoin Treasuries.
PRE shares traded nearly 15% lower in premarket trading Monday at $13.80.
