Tern plc (GB:TERN) has released an update.
Tern PLC, an investment firm focusing on early-stage IoT businesses, has successfully raised £625,000 through a placement of 50 million new ordinary shares at a significant discount, aiming to support their portfolio companies and cover general corporate expenses. The newly issued shares, priced at 1.25 pence each, will constitute approximately 10.1% of Tern’s post-placement issued share capital. The placement was facilitated by CMC Markets UK Plc and the shares are expected to commence trading on the AIM market around October 21, 2024.
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