Tern has announced a two-part fundraising, with a total of £2.2m raised from institutional and retail investors. Institutions have subscribed for 22.7m new shares at 7.5p per share, a 14.3% discount to the 8.75p prior closing price of 11 November, raising total gross proceeds of £1.7m. In conjunction with this placing, a retail offer was conducted via the PrimaryBid platform. The retail offer was oversubscribed, with subscriptions received for a further 6.7m new shares, also at 7.5p per share, r ....
13 Nov 2020
Fundraising to provide investment headroom £1.7m subscription and £0.5m retail offer completed
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Fundraising to provide investment headroom £1.7m subscription and £0.5m retail offer completed
Tern PLC (TERN:LON) | 2.6 0 0.0% | Mkt Cap: 10.4m
- Published:
13 Nov 2020 -
Author:
Gareth Evans -
Pages:
2
Tern has announced a two-part fundraising, with a total of £2.2m raised from institutional and retail investors. Institutions have subscribed for 22.7m new shares at 7.5p per share, a 14.3% discount to the 8.75p prior closing price of 11 November, raising total gross proceeds of £1.7m. In conjunction with this placing, a retail offer was conducted via the PrimaryBid platform. The retail offer was oversubscribed, with subscriptions received for a further 6.7m new shares, also at 7.5p per share, r ....