Tern (LSE:TERN) has repaid the £125,957.26 of outstanding principal and accrued interest due under its loan facility agreement.
The AIM-listed investment company backs early-stage, disruptive Internet of Things technology businesses.
The facility was originally announced on 12 June 2023 and had been varied several times since, most recently on 5 March.
Following the repayment, no amounts remain outstanding under the loan.
News Intelligence what this means for the company
Tern has fully repaid a £125,957 loan facility originally drawn in June 2023 and varied multiple times, most recently in March 2024. The repayment eliminates all outstanding debt under that facility, but the company's cash position remains extremely tight—£0.05m at year-end 2025—making this a liquidity event rather than a sign of financial strength.
Debt elimination is positive in isolation, but Tern's near-zero cash reserves and ongoing exposure to £1.02m in convertible loan notes in Talking Medicines maturing November 2029 mean the company remains dependent on portfolio performance or capital raises to fund operations and honour its own obligations.
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