Recent Updates — HLSQ
Stockholders approved Amendment No. 2 to the 2026 Equity Incentive Plan, increasing reserved shares by 5,315,000 from 685,000 to 6,000,000 following a one-for-ten reverse split. Concurrently, the company issued 5,332,617 restricted common shares via cashless warrant exercises by Mandragola Ltd., bringing total outstanding shares to approximately 25.9 million as of October 23, 2026. Tessera Defense & Homeland Security Inc. operates in the defense and homeland security sector.
Tessera Defense and Homeland Security Inc. issued 6,529,494 restricted common shares to Mandragola Ltd. between October 13 and October 19, 2026. The issuance resulted from the cashless exercise of portions of a five-year warrant originally granted on April 13, 2026, in connection with Tessera's acquisition of a 60% interest in Dr. Frucht Systems Ltd. The shares were issued under Section 4(a)(2) of the Securities Act and are classified as restricted securities. Following these transactions, the company had 20,663,177 shares of common stock outstanding. Tessera Defense and Homeland Security Inc. operates in the defense and homeland security sector.
Tessera Defense and Homeland Security Inc. raised more than $6 million in net proceeds through its at-the-market offering program, with an average net price of approximately $1.11 per share after adjusting for a one-for-ten reverse stock split implemented on September 9, 2026. The company also issued 195,000 restricted shares to Mayers Ventures LLC as consideration for acquiring an equity interest in M.E.A. Testing Systems Ltd., an Israeli developer of testing systems for drones and unmanned systems, along with an option to acquire the remaining interest held by Motomova Inc. Additionally, 3,278,039 restricted shares were issued to Mandragola Ltd. upon cashless exercises of warrants related to a previous acquisition of Dr. Frucht Systems Ltd. Tessera Defense and Homeland Security Inc. operates in the defense technology sector, providing security solutions for drones and unmanned systems.
Tessera Defense and Homeland Security Inc. has entered into a formal employment agreement with Chief Executive Officer Michael Oster, who was appointed in March 2026 but had received no prior remuneration. The agreement establishes a monthly base salary of NIS 55,000 (approximately $18,000) and an annual performance bonus capped at 50% of base salary. Subject to stockholder approval at a special meeting on October 20, 2026, Oster will receive 400,000 fully vested shares, 1,000,000 restricted stock units vesting over three years, and options for up to 1,000,000 shares at $1.15 per share. Additionally, he is eligible for performance-based grants of up to 500,000 shares annually in fiscal years 2027 and 2028 if EBITDA per share exceeds specific thresholds. The company also finalized a similar agreement with CFO David Rokach, including $11,500 monthly salary and 180,000 fully vested shares. Tessera Defense and Homeland Security Inc. operates in the physical security technology sector, providing integrated detection and response solutions for critical infrastructure.
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.
Tessera Defense and Homeland Security Inc. announced its initial financial targets, projecting consolidated revenue of $14 million to $16 million for 2027, with approximately half supported by backlog or signed contracts. The company outlined a path to reach approximately $30 million in revenue by 2029, implying a compound annual growth rate of roughly 40% from the 2027 midpoint. Management expects 2027 revenue to be weighted toward the second half of the year due to deployment timing and customer project cycles. The targets assume continued demand for its physical security platform, execution of anticipated projects, expansion within existing accounts, growth through channel partners, and contributions from future acquisitions. Tessera Defense and Homeland Security Inc. operates in the defense and homeland security industry, providing integrated physical security solutions that combine detection, intelligence, and response technologies.