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Tern plc ( (GB:TERN) ) has shared an update.
Tern Plc has secured a bridging loan of approximately £45,000 from a vehicle controlled by its non-board CEO, Al Sisto. This loan will help the company fulfill a commitment to one of its investments and maintain its rights in relation to this investment until it receives funds from an underwritten open offer expected on 31 July 2025. The loan, which is unsecured and carries an annual interest rate of approximately 12%, is set to be repaid on 1 August 2025.
More about Tern plc
Tern Plc is an investment company specializing in supporting high growth, early-stage, disruptive Internet of Things (IoT) technology businesses.
Average Trading Volume: 2,497,523
Technical Sentiment Signal: Strong Sell
Current Market Cap: £6.26M
See more data about TERN stock on TipRanks’ Stock Analysis page.