Completion of Tranche One of the DA Fund raise

Tern PLC
28 December 2023
 

 

28 December 2023

 

Tern Plc

("Tern" or the "Company")

 

Completion of Tranche One of the Device Authority Fund raise

 

Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, announces that, further to the Company's announcement of 27 December 2023, Tranche One ("T1") of the Device Authority Fund Raise has now completed.  Through T1 Device Authority has received US$4.0 million.

 

A further announcement will be made in due course upon completion of the Second Tranche ("T2") of the Device Authority Fund Raise. T2 totals US$3.3 million and is contingent on approval pursuant to the National Security and Investment Act 2021 ("NASI") and acceptance of the approval by Ten Eleven Ventures.

 

Unless otherwise stated, defined terms should be given the meaning given to them in the announcement made on 27 December 2023.

 

Enquiries

 

Tern Plc

Ian Ritchie (Chairman)

via IFC Advisory

 

Allenby Capital Limited

(Nominated Adviser and Broker)

Alex Brearley / Dan Dearden-Williams (Corporate Finance)

Kelly Gardiner / Guy McDougall (Sales and Corporate Broking)

 

Tel: 0203 328 5656

 

IFC Advisory

(Financial PR and IR)

Tim Metcalfe

Graham Herring

Florence Chandler

 

Tel: 0203 934 6630

tern@investor-focus.co.uk

 

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Tern (TERN)
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