Tern raises £642,486 via an Underwritten Open Offer
July 2025
Tern Plc is an LSE AIM listed London-based venture capital investor, investing in early-stage IoT start-ups.
In addition to capital, Tern acts as a strategic and operational partner to its portfolio companies, to help them scale into the EU and US markets.
All Tern partners have a wealth of global experience in scaling technology businesses, and they act as partners with their portfolio companies to support their growth prospects.
Underwritten Open Offer
On 14 July 2025, the Company announced the successful underwritten Open Offer to raise approximately £642,486 (before expenses) through the issue of 64,248,646 Open Offer Shares at an Issue Price of 1.00p per Open Offer Share. Under the Open Offer, with all Qualifying Shareholders entitled to subscribe for Open Offer Shares at the Issue Price on the basis of 1 Open Offer Share for every 9 Ordinary Shares held on the Record Date.
Having helped Tern with the production of their annual report since 2015, the Perivan shareholder communications team was delighted to be appointed to produce the documentation which included the provision of the Engage data room platform which was utilised for the secure proof distribution and successfully completed and posted to Qualifying Shareholders on 14 July 2025.
Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader in the production of documentation relating to corporate finance transactions.