Tern plc (GB:TERN) has released an update.
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Tern Plc, a company specializing in early-stage IoT technology investments, has partially divested its shares in Device Authority for £233,000, reducing its stake from 31.7% to 30.0%. This move, executed at the same valuation as a recent fundraising event, aims to fund further investments in Tern’s portfolio and support general corporate purposes. With the anticipated completion of an additional funding tranche, Tern’s holding is expected to value at approximately £4.2 million.
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