Tern: Progressive
announced on 21 February that it has raised £221k gross via a placing at an issue price of 1.15p, a 10% discount to the closing price on 20 February. The proceeds will be used to contribute towards Tern's commitment to invest in Sure Valley Ventures Enterprise Capital Fund (SVV2), to invest in the existing Tern portfolio, thus strengthening its negotiating position, and for general operating and legal expenses.
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