Tern plc (GB:TERN) has released an update.
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Tern Plc, a company specializing in Internet of Things (IoT) technology investments, has announced the exercise of warrants that will result in the issuance of over 5.5 million new shares, raising approximately £110,480. These warrants were connected to a £3 million loan facility with the initial drawing of £500,000 as previously disclosed. The company expects these new shares to be traded on the AIM market around 20 May 2024, which will bring the total voting rights to 432,700,318.
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