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TH1NG has recently entered into several new partnerships, received a breakthrough order, won a county-wide IoT procurement, and filled its war chest. Through the company’s recent capital raise, Skellefteå Kraft, a key partner, has joined the company as an active owner. The case remains strong, but the dilution stemming from the directed issue has prompted us to lower our base case, although we conclude that TH1NG now has funding in place to take it into 2024.
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