Tern has raised £1.5m gross proceeds through a subscription of 17.6m new shares at 8.5p per share, a 19% discount to the 10.5p last closing price. The funds raised are intended to be used to facilitate new investment to expand Tern’s portfolio, but also enable prospective follow-on investments in existing portfolio companies. The net proceeds add to Tern’s £0.8m cash position at end-June 2020. The directors report a strong new investment pipeline for Tern and anticipat
20 Jul 2020
Fundraising to facilitate new investment
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Fundraising to facilitate new investment
Tern PLC (TERN:LON) | 2.6 0 15.9% | Mkt Cap: 10.4m
- Published:
20 Jul 2020 -
Author:
Gareth Evans -
Pages:
2
Tern has raised £1.5m gross proceeds through a subscription of 17.6m new shares at 8.5p per share, a 19% discount to the 10.5p last closing price. The funds raised are intended to be used to facilitate new investment to expand Tern’s portfolio, but also enable prospective follow-on investments in existing portfolio companies. The net proceeds add to Tern’s £0.8m cash position at end-June 2020. The directors report a strong new investment pipeline for Tern and anticipat