Business
Completion of Tranche One of the DA Fund raise
Completion of Tranche One of the DA Fund raise.
About this update from Tern Plc
[{"type":"text","content":"\n\n \n28 December 2023\n \nTern Plc\n(\"Tern\" or the \"Company\")\n \nCompletion of Tranche One of the Device Authority Fund raise\n \nTern 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.\n \nA 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.\n \nUnless otherwise stated, defined terms should be given the meaning given to them in the announcement made on 27 December 2023.\n \nEnquiries\n \n\n\n\n\nTern Plc\nIan Ritchie (Chairman)\n\n\nvia IFC Advisory\n\n\n\n\n \nAllenby Capital Limited\n(Nominated Adviser and Broker)\nAlex Brearley / Dan Dearden-Williams (Corporate Finance)\nKelly Gardiner / Guy McDougall (Sales and Corporate Broking)\n\n\n \nTel: 0203 328 5656\n\n\n\n\n \nIFC Advisory\n(Financial PR and IR)\nTim Metcalfe\nGraham Herring\nFlorence Chandler\n\n\n \nTel: 0203 934 6630\[email protected]\n\n\n\n\n \n\n","length":4197,"tagName":"div"}]