Tessera Defense secures $5 million revolving credit line from Mandragola Ltd
HLSQ•Tessera Defense and Homeland Security entered a revolving credit line with Mandragola Ltd. for up to $5 million, with 12% annual interest and a maturity date of Oct. 5, 2029.
1. Credit line terms
The new facility adds to a separate $2 million Mandragola revolver signed May 13, 2026, which had no borrowings outstanding. Each advance will be issued as a convertible promissory note, with a conversion price set at the lower of $1.00 or the five-day low closing price; conversions are capped at 19.99% of outstanding shares without shareholder approval and require NYSE American listing authorization. The company may prepay without penalty.
