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Tern - After Yesterday’s Calamitous 25% Fall, Is This More Disingenuousness?

By Nigel Somerville, the Deputy Sheriff of AIM | Friday 3 December 2021


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.


Yesterday AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) announced that principal investee Device Authority (DA) had completed a fundraise involving Tern (for $1.25 million), Tern’s partners in DA, Alsop Louie and the Samenuk Trust for $0.41 million, and a new investor in the form of Venafi which had ponied up a further $1.25 million. Tom Winnifrith covered the maths on why this was a disaster for the BBMs who think Tern should be valued at a multiple of NAV but it seems to me that yesterday’s RNS was disingenuous toboot.

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