Prenetics Provides Update on Voluntary Warrant Exchange Program, Reaching 86.7% Participation

Rhea-AI Summary

Prenetics (NASDAQ: PRE) announced that holders representing 86.7% of the 5,445,284 warrants issued in the October 2025 financing have agreed to the Company’s voluntary warrant exchange program.

Approximately 4,720,832 Class A and Class B warrants are expected to be exchanged for about 2.36 million Class C warrants, leaving roughly 3.08 million total outstanding Class A, B and C warrants — a 43.3% reduction from the October 2025 warrants. Full exercise of the ~3.08 million warrants implies ~18.3% dilution to outstanding shares, down from ~32.3% previously.

The Class C warrants carry an $18.00 exercise price, a two-year term (starting when an F-3 resale registration is effective), and a standard forced-redemption feature exercisable if shares trade at or above $21.60 for ten consecutive trading days after effectiveness.

Positive

• Participation reached 86.7% of issued warrants
• Exchanged ~4.72M warrants for ~2.36M Class C warrants
• Outstanding warrants cut to ~3.08M (≈43.3% reduction)
• Estimated dilution reduced to ~18.3% from ~32.3%

Negative

• About 13.3% of October 2025 warrants remain unexchanged
• Class C warrants have a forced-redemption trigger at $21.60
• Full exercise of remaining ~3.08M warrants still implies ~18.3% dilution
• Class C two-year term begins only after an F-3 registration becomes effective

News Market Reaction

+0.44%

1 alert

+0.44% News Effect

On the day this news was published, PRE gained 0.44%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares in Oct 2025 offering: 2,722,642 Class A shares Warrants issued: 5,445,284 warrants Exchange participation: 4,720,832 warrants (86.7%) +5 more

8 metrics

Shares in Oct 2025 offering 2,722,642 Class A shares Issued in October 2025 financing round

Warrants issued 5,445,284 warrants Total Class A and B warrants from October 2025 round

Exchange participation 4,720,832 warrants (86.7%) Warrants covered by voluntary exchange agreements

New Class C warrants ≈2.36 million Class C warrants to be issued in exchange

Outstanding warrants post-exchange ≈3.08 million Total Class A, B and C warrants expected outstanding

Dilution post-exercise ≈18.3% Assuming full exercise of 3.08M warrants

Legacy warrant exercise prices $24.12 and $32.16 Exercise prices for Class A and Class B warrants

Class C exercise and trigger $18.00 exercise, $21.60 call trigger New Class C warrant terms and forced-redemption condition

Market Reality Check

Price: $18.90 Vol: Volume 96,724 is about 28...

normal vol

$18.90 Last Close

Volume Volume 96,724 is about 28% below the 20-day average of 133,876, suggesting limited pre-news positioning. normal

Technical Shares trade above the 200-day MA, at $15.78 vs $9.73, indicating a pre-news uptrend.

Peers on Argus

PRE was up 0.19% while key diagnostics peers like MDXH (-4.72%) and BDSX (-4.44%...

PRE was up 0.19% while key diagnostics peers like MDXH (-4.72%) and BDSX (-4.44%) traded lower, pointing to stock-specific dynamics rather than a sector-wide move.

Historical Context

5 past events · Latest: Dec 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 30	Capital allocation shift	Positive	-3.3%	Ended Bitcoin purchases and redirected capital toward IM8 growth.
Dec 23	Warrant exchange deal	Positive	-6.9%	Voluntary exchange to reduce dilution and simplify capital structure.
Nov 25	Conference participation	Neutral	+8.6%	Announced December conference appearances and investor meetings.
Nov 24	Insider share purchases	Positive	+11.2%	Executives bought ~111,911 shares for about $1.45M in open market.
Nov 14	Analyst rating update	Positive	-9.4%	Cantor reiterated Overweight with $31 target after strong IM8 metrics.

Pattern Detected

Recent history shows several instances where seemingly positive corporate updates were followed by negative 24h price reactions, indicating a tendency for good news to be faded.

Recent Company History

Over the past few months, Prenetics has executed multiple capital and strategy actions. The October 2025 financing added 2,722,642 shares plus warrants, followed by a warrant exchange on Dec 23, 2025 to reduce dilution. Management and executives disclosed sizable open-market share purchases in November, and Cantor Fitzgerald reiterated an Overweight rating with a $31 target after strong IM8 growth. A late-December update shifted capital allocation away from Bitcoin toward IM8. Today’s warrant exchange update further refines this capital-structure clean-up.

Market Pulse Summary

This announcement details higher participation in Prenetics’ voluntary warrant exchange, with about ...

Analysis

This announcement details higher participation in Prenetics’ voluntary warrant exchange, with about 4.72M warrants (roughly 86.7%) set to convert into about 2.36M Class C warrants. The company expects outstanding warrants to fall to roughly 3.08M, cutting potential dilution from about 32.3% to 18.3%. In context of the October 2025 financing and recent capital-allocation updates, this move continues management’s focus on streamlining the capital structure and clarifying future share overhang.

Key Terms

warrant, forced-redemption, exercise price, registration statement, +2 more

6 terms

warrant financial

"voluntary warrant exchange program. Updated Participation and Impact In connection"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

forced-redemption financial

"and a standard forced-redemption (call) feature. The Company may exercise"

Forced redemption is when the issuer compels holders to surrender a security — such as a bond, preferred share, or convertible instrument — before its scheduled end, usually under rules spelled out in the offering. Think of it like a lender calling a loan: investors must accept payment or conversion on the issuer’s timetable, which can cut off future income or lock in a price that may be below expectations. It matters because it changes the timing and amount of returns and can affect portfolio value and planning.

exercise price financial

"One (1) Class A warrant and one (1) Class B warrant with exercise prices of $24.12 and $32.16"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

registration statement regulatory

"term commencing upon the effectiveness of a registration statement on Form F-3 registering"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

form f-3 regulatory

"effectiveness of a registration statement on Form F-3 registering the resale"

Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.

trading days technical

"if the Company’s Class A ordinary shares trade at or above 120% of the exercise price ... for ten (10) consecutive trading days"

Trading days are the specific days when a stock exchange is open and buying and selling of securities can occur, excluding weekends and exchange-declared holidays. Investors use trading days to measure performance, calculate settlement deadlines and time-sensitive events—think of them as the business hours calendar for markets, where returns, volumes and deadlines are counted only on days the market is operating.

AI-generated analysis. Not financial advice.

CHARLOTTE, N.C., Jan. 05, 2026 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a leading health sciences company and parent of the IM8 premium health and longevity brand, today announced an update to its previously announced voluntary warrant exchange program.

Updated Participation and Impact

In connection with the Company’s prior financing round in October 2025, 2,722,642 Class A ordinary shares were issued, with one Class A warrant and one Class B warrant issued for each such Class A ordinary share, for a total of 5,445,284 warrants.

As of the date of this announcement, the Company has entered into exchange agreements covering 4,720,832 of the 5,445,284 aggregate Class A and Class B warrants issued in the October 2025 financing round, representing approximately 86.7% participation. Following the Company’s prior announcement on December 23, 2025, additional holders of Class A and Class B warrants elected to participate in the exchange program, increasing total participation from approximately 83.4% to approximately 86.7%.

Based on the exchange agreements, a total of approximately 4.72 million in aggregate of the Class A and Class B warrants issued in the October 2025 financing round is expected to be exchanged for approximately 2.36 million Class C warrants.

After such exchange, the total number of outstanding Class A, Class B and Class C warrants is expected to be approximately 3.08 million in aggregate, representing a reduction of approximately 43.3% from the number of Class A and Class B warrants issued in the October 2025 financing round. Assuming full exercise of the approximately 3.08 million Class A, Class B and Class C warrants in exchange for Class A ordinary shares, the dilutive impact relative to the Company’s total outstanding shares would be approximately 18.3%, a reduction from approximately 32.3% represented by the aggregate Class A and Class B warrants issued in the October 2025 financing round.

The Company believes the increased participation further strengthens the positive impact of the warrant exchange by reducing potential dilution, simplifying capital structure, and enhancing the investability of the Company’s ordinary shares.

Summary of the Warrant Exchange Terms

As set out in the Company’s prior announcement on December 23, 2025, under the exchange agreements:

• One (1) Class A warrant and one (1) Class B warrant with exercise prices of $24.12 and $32.16, respectively, each with a five-year term have been exchanged for
• One (1) new Class C warrant with:
  • an exercise price of $18.00 per Class A ordinary share,
  • a two-year term commencing upon the effectiveness of a registration statement on Form F-3 registering the resale of the shares issuable upon exercise of the Class C warrants, and
  • a standard forced-redemption (call) feature.
    
    

The Company may exercise its forced-redemption right only after the registration statement on Form F-3 registering the resale of the shares issuable upon exercise of the Class C warrants is declared effective and only if the Company’s Class A ordinary shares trade at or above 120% of the exercise price (i.e., $21.60) for ten (10) consecutive trading days.

Warrant holders participated in the exchange on a voluntary basis, and identical terms were offered to all eligible warrant holders.

About Prenetics
Prenetics (NASDAQ: PRE) is a leading health sciences company redefining the future of health and longevity through IM8 — its flagship consumer brand co-founded with David Beckham and championed by World No. 1 tennis player Aryna Sabalenka. IM8 has achieved the fastest growth trajectory in supplement industry history, reaching $100 million+ in ARR within 11 months of launch, outpacing even leading AI startups.

About IM8
IM8 is the pinnacle of premium core nutrition, born from a collaboration between David Beckham as a co-founding partner, and an elite team of scientists spanning medical professionals, academia and space science. Combining cutting-edge science with nature’s most potent ingredients, IM8 delivers a holistic, science-backed approach to health, empowering you to live your most vibrant life. IM8’s flagship product, Daily Ultimate Essentials is an all-in-one powder supplement engineered to replace 16 different supplements in a delicious drink and is NSF Certified for Sport, non-GMO, vegan, free from common allergens, and contains no artificial flavors, colors or sweeteners. IM8 is a subsidiary of Prenetics (NASDAQ: PRE), a leading global health sciences company dedicated to advancing consumer health. To learn more about IM8, please visit www.IM8health.com.

Investor Relations Contact:
investors@prenetics.com
PRE@mzgroup.us

Angela Cheung
Investor Relations / Corporate Finance
angela.hm.cheung@prenetics.com

Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of the Company, and growth opportunities are forward-looking statements. Our guidance (including warrant structure, numbers and timeline) reflects management’s current estimates and assumptions as of the date of this release, is subject to significant risks and uncertainties, and is not a guarantee of future performance. Actual results may differ materially. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” “guidance,” “outlook,” “forecast,” or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which involve inherent risks and uncertainties, and therefore they should not be relied upon as being necessarily indicative of future results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to factors beyond the Company’s control that prevent the closing and final consummation of the exchange agreements. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the “Risk Factors” section of the Company’s most recent registration statement and the prospectus therein, and the other documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. Unless otherwise specified, all information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

FAQ

What did Prenetics (PRE) announce about its warrant exchange on January 5, 2026?

Prenetics announced 86.7% participation in its voluntary warrant exchange, converting ~4.72M warrants into ~2.36M Class C warrants.

How many warrants will remain outstanding for Prenetics (PRE) after the exchange?

After the exchange, Prenetics expects approximately 3.08 million total outstanding Class A, B and C warrants.

How does the warrant exchange affect potential dilution for Prenetics (PRE) shareholders?

Assuming full exercise, dilution is expected to be ~18.3%, down from ~32.3% prior to the exchange.

What are the Class C warrant terms offered in Prenetics' (PRE) exchange program?

Each Class C warrant has an $18.00 exercise price, a two-year term beginning upon an effective F-3 registration, and a standard forced-redemption feature.

When can Prenetics (PRE) force-redemption of Class C warrants and at what price?

Prenetics may force-redemption only after the F-3 resale registration is effective and if shares trade at or above $21.60 for ten consecutive trading days.

What portion of the October 2025 warrants did not participate in Prenetics' (PRE) exchange?

Approximately 13.3% of the aggregate Class A and Class B warrants from October 2025 did not elect to participate.