Tern plc (GB:TERN) has released an update.
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Tern PLC, an IoT technology firm, has successfully closed its Open Offer, raising approximately £144,044 before expenses by issuing 11,524,513 new shares at 1.25 pence each. The initiative was launched as an alternative funding method after a resolution to issue new shares was not passed at the Annual General Meeting. With the Open Offer and the sale of shares in Device Authority, Tern has secured funding to support its portfolio companies and continue as an AIM-listed entity.
For further insights into GB:TERN stock, check out TipRanks’ Stock Analysis page.
