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Companies >
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Tern Plc >
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Fundraise for flexibility

  • 09 Mar 2020

Fundraise for flexibility


Tern Plc (TERN:LON) | 7.9 0 1.2% | Mkt Cap: 26.1m


  • Progressive Equity Research
    • Gareth Evans

    • 2 pages

Household Goods image



 
Household Goods image



Tern has raised £0.8m at a price of 6p, a c.20% discount to the previous price. That the group has managed to raise capital at all in the current climate is impressive, and management have shown a good level of involvement with some £113k of the total. The group continues to value its asset base very conservatively (always at most-recent third-party market valuation) so new investments take time to drive NAV growth, but Tern’s whole rationale is to invest capital and expand – and today’s news should assist with both over time.


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Fundraise for flexibility


Tern Plc (TERN:LON) | 7.9 0 1.2% | Mkt Cap: 26.1m


  • Published: 09 Mar 2020
  • Author: Gareth Evans
  • Pages: 2
  • Progressive Equity Research


Tern has raised £0.8m at a price of 6p, a c.20% discount to the previous price. That the group has managed to raise capital at all in the current climate is impressive, and management have shown a good level of involvement with some £113k of the total. The group continues to value its asset base very conservatively (always at most-recent third-party market valuation) so new investments take time to drive NAV growth, but Tern’s whole rationale is to invest capital and expand – and today’s news should assist with both over time.



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