Tern extends Device Authority convertible loan note maturity date

Money and Investment

Tern Plc (LON:TERN), the investment company specialising in the Internet of Things, has announced that the maturity date for all convertible loan notes provided to Device Authority Limited by Tern, Alsop Louie Partners and the George Samenuk Family Trust et al., has been extended to 31 March 2022.  

All existing repayment and conversion rights, automatic and at the holder’s option, have also been extended to 31 March 2022.  All other terms of these loan notes remain unchanged and as previously announced.

The outstanding convertible loan balance payable by Device Authority to Tern currently stands at US$4.3 million, excluding US$0.6 million of interest accrued to date.

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