Tern Plc

Equities

TERN

GB00BFPMV798

Investment Management & Fund Operators

Market Closed - London S.E. Other stock markets 11:35:08 2024-04-26 am EDT			5-day change	1st Jan Change
2.7 ^GBX	+3.85%		0.00%	-20.00%

Apr. 26	Bank of Japan Holds Policy Steady, Despite Slumping Yen	MT
Apr. 12	AIM WINNERS & LOSERS: Bens Creek falls as it lays off workers	AN

Tern completes first tranche of Device Authority fundraise

December 28, 2023 at 06:18 am EST

Tern PLC - London-based investor in early-stage 'internet of things' technology businesses - Completes tranche one of its Device Authority Ltd fundraise. Through tranche one, Device Authority has received USD4.0 million. Says a further announcement will be made after it has completed its second tranche, totalling USD3.3 million. Trance two is dependent on approval under the National Security & Investment Act.

On Thursday, Tern announced Device Authority's fundraise. Prior to the fundraise, Tern held a 54% shareholding in Device Authority, a Reading-based software firm. The Series B fundraising effort is aimed at helping Device Authority "to grow in line with its strategy beyond the end of 2024, including expanding its US activities," Tern said.

Current stock price: 3.30 pence, down 5.7% on Thursday in London

12-month change: down 60%

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Tern Plc

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Tern's Portfolio Company Device Authority Completes Second Closing of Tranche One in Fundraising	Feb. 07	MT
Tern announces additional fundraise for Device Authority	Feb. 07	AN
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Tern completes first tranche of Device Authority fundraise	Dec. 28	AN
Tern's Device Authority Raises $4 Million in First Tranche of Fundraising	Dec. 28	MT
Tern plunges as Device Authority announces USD7.3 million fundraising	Dec. 27	AN
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Tern's Device Authority Ltd. to Raise $7.3 Million in Fundraising Round	Dec. 27	MT

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Company Profile

Tern Plc is a United Kingdom-based investment company. The Company specializes in private software companies, predominantly in the Internet of Things (IoT). The Company predominantly supports software companies that develop commercial IoT security, enablement, and analytics solutions for the healthcare and industrial sectors. Its network of companies includes Device Authority Limited, Wyld Networks AB (Wyld Networks), InVMA Limited (trading as Konektio), FVRVS Limited (trading as FundamentalVR), Talking Medicines Limited (Talking Medicines), DiffusionData Limited, and Sure Valley Ventures UK Software Technology Fund (SVV). Device Authority Limited is involved in identity and access management (IAM) for the IoT and blockchain. FundamentalVR delivers virtual reality (VR) haptic flight simulators for surgery. Wyld Networks develops and sells wireless technology solutions that enable connectivity anywhere in the world. Talking Medicines is a data technology company.

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Investment Management & Fund Operators

Calendar

2024-09-17 - Q2 2024 Earnings Release (Projected)

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