Tern secures another extension to loan facility

(Sharecast News) - Tern announced on Monday that it has secured an extension to the repayment deadline on its existing loan facility, giving the AIM-traded investment firm additional flexibility to support the capital needs of its early-stage portfolio companies. The firm said the repayment date on the loan facility, originally announced in June 2023 and later varied in September 2024, had been pushed back from 15 September 2025 to 5 March 2026 with the lender's approval.

Around £0.15m remained outstanding on the facility, which accrues interest at 1% per month and would now be repayable by the new March deadline.

Tern said the extension was intended to help preserve its cash resources and provide greater negotiating flexibility around the potential capital requirements of its high-growth internet-of-things (IoT) investments.

At 1128 BST, shares in Tern were down 3.79% at 0.7p.

Reporting by Josh White for Sharecast.com.