Prenetics tumbles after launching stock-and-warrants offering

** Shares of health sciences co Prenetics Global PRE down 15.1% premarket at $14.23 as it looks to raise equity

** Hong Kong-headquartered PRE late Fri commenced offering of shares, or pre-funded warrants, and common warrants; deal size not disclosed

** PRE plans to allocate offering proceeds toward global expansion of its nutritional supplement, IM8, and buy more bitcoin BTCUSD

** In Feb, co announced genetic testing partnership with Humanity Protocol, a decentralized identity verification firm, and launched cryptocurrency treasury reserve strategy

** Co has about 14 mln shares outstanding, per the prospectus, giving it roughly $235 mln market cap through Fri

** Dominari Securities acting as sole placement agent for offering

** Through Fri close, PRE shares roughly doubled over the past three months. Stock ended 2024 at $5.80

** PRE debuted in 2022 after merger with Artisan Acquisition Corp, which was backed by Hong Kong tycoon Adrian Cheng

** Earlier this month, Dominari Holdings DOMH, backed by the sons of U.S. President Donald Trump, said its financial advisory business was cleared to lead IPOs on the NYSE