By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 30 October 2019
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.
Well done to Al Sisto and his team at AIM-listed jam-tomorrow IoT Investment company Tern plc (TERN) – a great job raising c. £1.75 million at 11.15p per share, a discount of 19%. No matter that there are unanswered questions over an apparent $10 million fundraise at its principal investee Device Authority which seems not to be a fundraise at all. No matter about the webinar with Microsoft or the tweets about a visit to Microsoft HQ – the main development appears to be a fundraise at new-ish investee FundamentalVR, which has closed a £4.3 million fundraise which includes the conversion of a loan note by Tern at a 20% discount. So what about Device Authority?......