Published on: April 6, 2022

Wyld Networks warrants exercised

Tern has announced that 98.6% of the Wyld Networks AB outstanding TO1
Warrants have been exercised, providing approximately SEK 25.2m (£2.0m)
to Wyld, before costs. Tern invested in Wyld in June 2016, and the
completion of the TO1 Warrant exercises reduces Tern’s equity stake in
Wyld from 58.7% to 49.2%. Wyld is reaping the benefits of its IPO on the
NASDAQ First North Growth Market in July 2021. This represents a phased
exit from the business for Tern, with access to capital in the future and share
value appreciation through Wyld’s continued success. Wyld is seeing
ongoing purchase orders and further commercial traction, including
entering into a connectivity partnership with Eutelsat Communications,
Senet Inc and TrakAssure. The recent commercial launch of Wyld Connect,
a satellite IoT product range, has created strong customer demand, with
purchase orders of more than SEK 28m as launch partners gear up for the
start of the commercial service, planned for the second half of 2022.

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