Tern has announced a small placing, a new investment and the intention to raise new funds for Device Authority. Given uncertainty around this we are putting our recommendation and price target under review. Clearly a successful fund raise for DA at a $36m would see an increase the NAV. Once this deal is closed we will have a clearer view of any upside.
14 Aug 2017
Announcement of a small placing
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Announcement of a small placing
Tern PLC (TERN:LON) | 2.7 0 1.9% | Mkt Cap: 11.5m
- Published:
14 Aug 2017 -
Author:
Harvey Robinson -
Pages:
3
Tern has announced a small placing, a new investment and the intention to raise new funds for Device Authority. Given uncertainty around this we are putting our recommendation and price target under review. Clearly a successful fund raise for DA at a $36m would see an increase the NAV. Once this deal is closed we will have a clearer view of any upside.