Tern PLC Completion of Tranche One of the DA Fund raise (9829X)

TIDMTERN

RNS Number : 9829X

Tern PLC

28 December 2023

28 December 2023

Tern Plc

("Tern" or the "Company")

Completion of Tranche One of the Device Authority Fund raise

Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, announces that, further to the Company's announcement of 27 December 2023, Tranche One ("T1") of the Device Authority Fund Raise has now completed. Through T1 Device Authority has received US$4.0 million.

A further announcement will be made in due course upon completion of the Second Tranche ("T2") of the Device Authority Fund Raise. T2 totals US$3.3 million and is contingent on approval pursuant to the National Security and Investment Act 2021 ("NASI") and acceptance of the approval by Ten Eleven Ventures.

Unless otherwise stated, defined terms should be given the meaning given to them in the announcement made on 27 December 2023.

Enquiries

 
 Tern Plc                                  via IFC Advisory 
  Ian Ritchie (Chairman) 
 
   Allenby Capital Limited                   Tel: [phone] 
   (Nominated Adviser and Broker) 
   Alex Brearley / Dan Dearden-Williams 
   (Corporate Finance) 
   Kelly Gardiner / Guy McDougall (Sales 
   and Corporate Broking) 
 
   IFC Advisory                              Tel: [phone] 
   (Financial PR and IR)                     [e-mail] 
   Tim Metcalfe 
   Graham Herring 
   Florence Chandler 
 

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December 28, 2023 02:00 ET (07:00 GMT)