Tern PLC Raises £221,154 to Bolster IoT and Immersive Tech Investments

Tern plc ( (GB:TERN) ) just unveiled an announcement.

Tern PLC has successfully raised £221,154 through a placing of new ordinary shares, with the proceeds intended to fund its commitment to the Sure Valley Ventures Enterprise Capital Fund (SVV2) and provide additional support for its portfolio and general corporate purposes. The placement, which represents approximately 3.53% of the enlarged issued share capital, will assist Tern in maintaining its strategic focus on investing in emerging technologies, positioning the company to capitalize on the growth opportunities within the IoT and immersive technology sectors. This move is expected to bolster Tern’s industry positioning and provide stakeholders with enhanced growth prospects.

More about Tern plc

Tern PLC is an investment company that focuses on high growth, early-stage, disruptive Internet of Things (IoT) technology businesses. The company is committed to supporting innovative ventures, particularly in the immersive technology and metaverse sectors, through strategic investments.

YTD Price Performance: -5.36%

Average Trading Volume: 3,148,157

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £6.96M

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