Tern Plc announces Talking Medicines fundraise, raises £440,000 for expansion

Tern Plc (LON:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things technology businesses, has announced that Talking Medicines Limited, a company in which Tern holds 23.8% of the equity, has undertaken a fundraising round, securing £440,000 in new investment via the issue of unsecured convertible loan notes from Tern and other existing Talking Medicines shareholders.  

Highlights

·    Talking Medicines has raised a total of £440,000 via the issue of unsecured convertible loan notes (the “2024 CLNs”) to Tern and other existing Talking Medicines shareholders

·    Tern has subscribed for £100,000 of the 2024 CLNs

·    The Talking Medicines Fundraise is intended to provide Talking Medicines with further funding to enable it to grow in line with its strategy, in particular by expanding its US activities

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