UPDATE -- Tessera Defense and Homeland Security Inc. Increases Equity Investment Stake in M.E.A. Testing Systems
Tessera (NYSE American: HLSQ) amended its investment agreement to raise its equity stake in Israeli drone-testing firm M.E.A. Testing Systems from 10% to 15%, paying with 130,000 HLSQ shares and agreeing to issue 65,000 more, subject to NYSE American approval. The amended deal also includes a $475,000 convertible loan to fund MEA's working capital and drone activities, plus an exclusive, perpetual, worldwide license to MEA's testing technology and know-how. Tessera retains an exclusive option to buy Motomova's remaining MEA stake at a price tied to MEA's audited fiscal 2027 results, preserving a path to full ownership.
Key figures
- Stake change
- 10% to 15%
- Shares issued
- 130000
- Convertible loan usd
- 475000
- Option pricing basis
- MEA audited results for fiscal year 2027
- Additional shares pending nyse approval
- 65000
AI analysis
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