Tessera Israel gets 90-day option to buy 51% of RT LTA Systems for up to $13M equity value

BiomX Inc.

Tessera Israel, subsidiary of HLSQ, received an option from X S.E. Security and Defense Ltd. to acquire 192 RT shares, 51% of RT LTA Systems Ltd.
Option is exercisable within 90 days, extendable 60 days after notice, and requires $1,000,000 Option Consideration paid within 30 days, refundable if not exercised.
RT Equity Value is the lower of $13,000,000 or two times average EBITDA plus 10% of average revenue for fiscal years 2026-2028.
Upon exercise, $2,000,000 is payable on account, including the Option Consideration, with $1,000,000 due at closing and the balance paid in annual installments.
X SE must cause RT to grant Tessera Israel a non-exclusive perpetual technology license within 60 days, surviving termination and becoming royalty-free if the Refund Amount is unpaid.

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