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Published on: June 13, 2023

£3m new facility agreed

Tern has successfully negotiated a new funding facility with an investor to provide up to £3m, available for up to 36 months, with an initial £0.5m drawn down. The credit facility is intended to protect Tern’s commercial position by supporting further growth and investment in its current portfolio companies. The facility will also strengthen Tern’s negotiating position and moves the company closer to a self-financing model. We see this funding as a sensible move as Tern continues to mature its position and offering. Tern also hosted a Q&A session with Board members Al Sisto and Ian Ritchie, and we reiterate some of the key messages discussed.

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