Prenetics Global (PRE) said Tuesday it has signed agreements to exchange about 83.4% of its outstanding Class A and Class B warrants for new Class C warrants to simplify its capital structure.

Under the exchange agreements, about 4.54 million of Class A and Class B warrants are expected to be exchanged for about 2.27 million Class C warrants, the company said.

After the exchange, the total outstanding Class A, Class B, and Class C warrants is expected to be about 3.18 million, a reduction of about 42% from the number of Class A and Class B warrants issued in its October 2025 financing round, the company said.

Prenetics said the reduction "materially improves its long-term dilution profile, reduces warrant overhang, and enhances the investability of its ordinary shares."

Shares of Prenetics were down more than 6% in recent Tuesday trading.

Price: 17.32, Change: -1.07, Percent Change: -5.79