Tessera Boosts Stake in Drone Testing Firm to 15%, Secures Tech License
MTMV filed a M&A and Partnerships on light trading volume (0.3× avg).
Summary
Tessera amended its investment agreement to increase its stake in M.E.A. Testing Systems from 10% to 15%, paying $50,000 cash and 130,000 shares, with an additional 65,000 shares pending NYSE American approval. The deal includes a convertible loan facility of up to $475,000 to fund MEA's working capital and drone activities, plus an exclusive, perpetual, worldwide license to MEA's patented load-free inertial dynamometer technology. This gives Tessera a direct path to full ownership via an option to acquire the remaining stake based on MEA's fiscal 2027 audited results. The move adds drone testing capability to Tessera's AI-driven security platform, addressing a growing threat vector. Watch for NYSE American approval of the additional share issuance and any conversion of the loan into equity.
At the time of this announcement, MTMV was trading at $0.30 on OTC in the Technology sector, with a market capitalization of approximately $84.5M. The 52-week trading range was $0.01 to $4.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.