USI enters merger with Infinite Reality; shareholders to retain ~3% of combined entity

UNIVERSAL SAFETY PRODUCTS, INC.

Merger valued at $500M enterprise; Infinite Reality shareholders will own ~97% of combined company.
USI shareholders retain ~3% and will also benefit from USI's ongoing operating business.
Conversion ratio: 0.437608078 USI shares per Infinite Reality share; fractional shares paid in cash.
Infinite Reality has secured over $50M in financing; merger expected to close Q2 2022.
USI to change name to Infinite Reality, Inc.; current USI management to oversee legacy operations.

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