Nachrichten May 23, 2022

Prenetics Announces Closing of Business Combination with Artisan Acquisition Corp.

Shearman & Sterling represented UBS Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited, who acted as placement agents on the PIPE in connection with Prenetics Global Limited (Prenetics)’s previously announced business combination with Artisan Acquisition Corp. (Artisan). The transaction was completed on May 18, 2022, and the shares of Prenetics began trading on Nasdaq under the new ticker symbol "PRE”.

Prenetics, a global leader in genomic and diagnostic testing, is entering the U.S. market through a merger with Artisan, a special purpose acquisition company privately founded by cultural entrepreneur Adrian Cheng. The transaction gave Prenetics an enterprise value of $1.25 billion with a combined equity value of $1.7 billion, making it the first Hong Kong startup valued at more than $1.0 billion to be publicly listed in any market.

The Team


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