Tern Launches Underwritten Open Offer

05:11 AM EDT, 09/07/2026 (MT Newswires) -- Tern (TERN.L) launched an underwritten open offer to raise 509,368 pounds sterling of gross proceeds through the issuance of 56,596,480 shares at 0.009 pound each. The Internet-of-Things technology investor said Monday that qualifying shareholders can subscribe for one new open offer share for every 16 ordinary shares held. The issue price represents a 25% discount. Underwriter CMC Markets also agreed to take up any shares not subscribed for by qualifying shareholders. The open offer is conditional only on admission of the new shares to trading on London's AIM and closes for acceptances on Sept. 22. Admission and dealings are expected to commence on Sept. 24.