Tern PLC Further re. FundamentalVR Fund Raise (3953W)
2022年8月18日 - 3:00PM
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TIDMTERN
RNS Number : 3953W
Tern PLC
18 August 2022
18 August 2022
Tern Plc
("Tern" or the "Company")
Further re. FundamentalVR Fund Raise
In the Company's announcement dated 11 August 2022, the Company
stated that FVRVS Limited ("FundamentalVR") had closed a second
tranche of its Series B fund raising round, securing an additional
GBP5 million in new investment (the "FundamentalVR Series B second
tranche") from a new institutional investor at the same valuation
as the first tranche, making a total of GBP13.2 million raised in
Series B funding at this time.
The Company notes that in its press release dated 11 August
2022, FundamentalVR, an independent privately held company, stated
that it "has raised an additional $20 million to significantly
accelerate medical skill-transfer and increase surgical proficiency
through its world-leading medical simulation platform, Fundamental
Surgery."
Tern can confirm that all the information disclosed in its
announcement dated 11 August 2022 is correct and understands that
the figure of $20 million referred to by FundamentalVR includes
committed contingent funding yet to be received by FundamentalVR.
Such funding would be at the same valuation as the FundamentalVR
Series B second tranche and would not affect the book value of
Tern's investment in FundamentalVR.
Enquiries
Tern Plc via IFC Advisory
Al Sisto (CEO)
Sarah Payne (CFO)
Allenby Capital Limited Tel: 0203 328 5656
(Nominated Adviser and Broker)
David Worlidge / Alex Brearley (Corporate
Finance)
Matt Butlin / Kelly Gardiner (Sales
and Corporate Broking)
IFC Advisory Tel: 0203 934 6630
(Financial PR and IR) tern@investor-focus.co.uk
Tim Metcalfe
Graham Herring
Florence Chandler
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END
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