Tern plc (GB:TERN) has released an update.
Tern plc, an IoT technology firm, successfully completed its Open Offer, raising approximately £144,044 through the issuance of 11,523,513 new shares at 1.25 pence each, following the AGM’s disapproval of a resolution for issuing shares. The funds raised are intended to support the company’s portfolio companies and provide necessary capital as an AIM-listed entity, with further capital acquisition strategies under consideration. Directors and PDMRs participated in the Open Offer, with notable subscriptions from Ian Ritchie and Albert Sisto, reflecting their commitment to the company’s growth.
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