Tern plc ( ($GB:TERN) ) has shared an announcement.
Tern Plc has invested US$280,000 in new unsecured convertible loan notes issued by portfolio company Device Authority, using proceeds from its recent open offer, while maintaining its 25.3% equity stake. The notes, carrying 8% annual interest and various conversion terms tied to a future change of control, qualifying fundraise or 2027 maturity, form part of a wider up to US$1.6 million CLN round aimed at providing Device Authority with sufficient working capital to service anticipated significant contracts and support its growth in IoT security.
Device Authority, which reported net assets of about £11.6 million and a £1.75 million loss in its latest statutory accounts, is described by Tern as having better current performance and prospects than those historic figures suggest. The funding underscores Tern’s strategy of backing and ultimately realising value from its IoT portfolio companies, reinforcing Device Authority’s position in the expanding market for automated, scalable identity and access management for connected devices.
Spark’s Take on TERN Stock
According to Spark, TipRanks’ AI Analyst, TERN is a Underperform.
The score is primarily held down by poor financial performance (sharp revenue contraction, heavy losses, and negative operating/free cash flow). Technicals also point to a sustained downtrend with only tentative oversold stabilization signals. Valuation is difficult to support given negative earnings and no dividend yield data.
To see Spark’s full report on TERN stock, click here.
More about Tern plc
Tern Plc is an investment company focused on high-growth, early-stage, disruptive Internet of Things technology businesses. Its portfolio includes Device Authority, a specialist in identity and access management for connected devices, targeting automotive, medical (IoMT) and industrial (IIoT) markets through its KeyScaler security platform.
Average Trading Volume: 2,449,074
Technical Sentiment Signal: Sell
Current Market Cap: £5.53M
For a thorough assessment of TERN stock, go to TipRanks’ Stock Analysis page.
