Homeland Security Capital secures forbearance agreement with YA Global

Agreement negotiated after company failed to pay off debt at maturity

By Devika Patel

Knoxville, Tenn., Aug. 4 - Homeland Security Capital Corp. arranged a forbearance agreement with investor YA Global Investments, LP on July 29, according to an 8-K filed Thursday with the Securities and Exchange Commission.

Under the agreement, YA Global agreed to forbear from exercising its rights in regards to a default that may have occurred when the company failed to pay the principal and interest due on its debt at maturity.

As a condition for this, the company allowed YA Global a security interest in its class A membership interests in its subsidiary, Fiducia Holdings LLC.

Based in Arlington, Va., Homeland Security invests in homeland security companies.

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