WYLD-FM

Tern PLC: Wyld Networks Limited issues £1.1m of Convertible Loan Notes to Tern to replace existing Cash Flow Loan and announces new agreement

Retrieved on: 
Wednesday, May 20, 2020

HHVL is an independent company with a collaboration agreement with NHS Highland for the purpose of developing innovations in healthcare.

Key Points: 
  • HHVL is an independent company with a collaboration agreement with NHS Highland for the purpose of developing innovations in healthcare.
  • The Board of Tern believes that Wyld's technology may also have broader applications in helping other businesses get back to work.
  • By converting the cash flow loan monies due to Tern into the CLN, Tern is providing Wyld with balance sheet stability."
  • This conversion would take place at a 20% discount to the Wyld equity fundraise price or the exit price per Wyld share.

Wyld Issues Convertible Loan Notes

Retrieved on: 
Thursday, May 7, 2020

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that its portfolio company, Wyld Networks Limited ("Wyld"), has secured 400,000 from an investor to fund its growing pipeline of opportunities and for general working capital purposes, by way of an unsecured Convertible Loan Note facility ("CLN").

Key Points: 
  • Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that its portfolio company, Wyld Networks Limited ("Wyld"), has secured 400,000 from an investor to fund its growing pipeline of opportunities and for general working capital purposes, by way of an unsecured Convertible Loan Note facility ("CLN").
  • These funds will enable Wyld to continue on this upward trajectory towards the goal of securing a syndicated Series A funding round in due course."
  • This conversion would take place at a 20% discount to the Wyld equity fundraise price or the exit price per Wyld share.
  • The CLN is not transferable other than with the prior consent of Wyld and Tern and is subject to customary terms and conditions for such an instrument.