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Tern plc ( (GB:TERN) ) has issued an update.
Tern Plc has announced the completion of Tranche Two fundraising for Device Authority Limited amounting to US$3.3 million, which was initially deferred but ultimately determined advantageous for maintaining business momentum. As a result, Tern’s holding in Device Authority has decreased from 30% to 25.3%. This fundraising round underscores the confidence of investors like Ten Eleven Ventures in Device Authority’s continued positive performance and potential for increased sales and business acceleration.
More about Tern plc
Tern Plc is an investment company focused on supporting early-stage, high-growth, disruptive Internet of Things (IoT) technology businesses. They are involved with Device Authority, a global leader in Identity and Access Management (IAM) for IoT, specifically targeting the automotive, medical device, and industrial sectors.
YTD Price Performance: -57.93%
Average Trading Volume: 3,762,547
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £7.35M
For an in-depth examination of TERN stock, go to TipRanks’ Stock Analysis page.
