Tern plc (LSE:TERN), the AIM-listed investor focused on Internet of Things technology companies, has raised £222,000 through an equity placing involving the issue of 37 million new ordinary shares at a price of 0.60 pence each.
The fundraising follows the company’s earlier open offer and utilises most of the remaining share issuance authority approved by shareholders at Tern’s recent general meeting.
Management said the net proceeds will be used for the same strategic purposes outlined in connection with the previous open offer, with additional details on the allocation of funds from both capital raises expected in due course.
Admission of the new shares to trading on AIM is anticipated around 22 May 2026. Following admission, Tern’s total issued share capital will increase to 855,543,681 ordinary shares. While the placing results in modest dilution for existing shareholders, it also strengthens the company’s funding position as it continues supporting its portfolio of IoT-focused businesses.
The company’s broader outlook remains weighed down by weak financial performance, including a sharp decline in revenue, ongoing losses and negative operating and free cash flow generation. Technical indicators also continue to reflect a longer-term downtrend, although some early signs of oversold stabilisation have emerged. Valuation remains difficult to justify given the absence of earnings and lack of dividend support.
More about Tern plc
Tern plc is an AIM-listed investment company focused on Internet of Things and connected device technologies. The group invests in and supports early-stage technology businesses operating across IoT-related markets, aiming to build long-term shareholder value through portfolio development and strategic growth initiatives.
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