Tern Plc (LSE:TERN) said it has been issued approximately £230,000 of new unsecured convertible loan notes by Talking Medicines Limited, following the cancellation of around £180,000 of existing short-term loans. The transaction increases Tern’s total holding of convertible loan notes in Talking Medicines to roughly £0.52 million, while its equity interest remains unchanged at 23.8%.
Talking Medicines is seeking to raise up to £1.0 million through the issue of similar convertible loan notes, with the funding intended to support further development of its data science and artificial intelligence capabilities. The company is targeting growth opportunities within the healthcare advertising market, where it aims to deliver more effective, insight-driven engagement.
More about Tern Plc
Tern Plc is an investment company focused on backing early-stage, high-growth technology businesses, particularly those operating in the Internet of Things (IoT) sector.
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