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Tern – ANOTHER Bailout Fundraise, Another Poxy Amount To Keep The Lights On For a month or two

By Nigel Somerville | Thursday 17 April 2025


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM-listed jam-tomorrow POS lifestyle company Tern plc (TERN) has announced yet another tiny fundraise, this time for £340,140 at 1p per share – an eye-watering 31% discount. But this time it is in the form of an underwritten open offer – and the underwriter is getting 7% so in fact even before legal fees, PR fluffies and so on, the company will only get 0.93p per share – an even more eye-watering 36% discount. And it is perfectly clear it will have to rattle the tin again…..if allowed to by its bedraggled shareholder register as this latest fundraise uses up fully the shares the board is currently allowed to issue. 
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