Tern PLC Completion of Tranche One of the DA Fund raise (9829X)
December 28 2023 - 2:00AM
UK Regulatory
TIDMTERN
RNS Number : 9829X
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 via IFC Advisory
Ian Ritchie (Chairman)
Allenby Capital Limited Tel: 0203 328 5656
(Nominated Adviser and Broker)
Alex Brearley / Dan Dearden-Williams
(Corporate Finance)
Kelly Gardiner / Guy McDougall (Sales
and Corporate Broking)
IFC Advisory Tel: 0203 934 6630
(Financial PR and IR) tern@investor-focus.co.uk
Tim Metcalfe
Graham Herring
Florence Chandler
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