Prenetics, a listed company, will raise more funds by selling its ACT Genomics to explore Bitcoin reserve strategies

PANews reported on June 18 that according to an official announcement, consumer health science company Prenetics (NASDAQ: PRE) announced that it has reached a final agreement to transfer its ownership of genomic medicine business ACT Genomics Holdings to Delta Electronics (TWSE: 2308). The total transaction value is up to US$71.78 million. Prenetics expects to receive approximately US$46 million in cash. After the transaction is completed, the company's cash reserves will increase to US$86 million, short-term assets will reach US$117 million, and it will maintain a zero-debt status. CEO Danny Yeung said that the ample cash reserves will enable the company to explore innovative financial strategies such as digital assets and Bitcoin treasury management.