Financing ·
Tessera signs $5M revolving credit line with Mandragola and issues 2.7M shares via note conversion and warrant exercises
HLSQTessera Defense & Homeland Security Inc.
On October 5, 2026, Tessera Defense and Homeland Security Inc. entered into a new Line of Credit Agreement with Mandragola Ltd., establishing a $5,000,000 revolving credit facility in addition to an existing $2,000,000 line. The new facility bears interest at 12% per annum and includes convertible promissory notes that may be converted into common stock at the lower of the five-day average closing price or $1.00, subject to a 19.99% ownership cap. Concurrently, between September 29 and October 2, 2026, the company issued 2,690,500 restricted shares: 200,000 shares from converting $95,020 of existing debt at $0.4751 per share, and 2,490,500 shares from cashless exercises of warrants related to its acquisition of Dr. Frucht Systems Ltd. As of October 2, the company had 8,920,240 shares outstanding. Tessera Defense & Homeland Security Inc. operates in the defense and homeland security sector.