REG - Tern PLC - Completion of Tranche One of the DA Fund raise

TernAnnouncement

28/12/2023 07:00

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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 (mailto:tern@investor-focus.co.uk)

 Tim Metcalfe

 Graham Herring

 Florence Chandler

 

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