Universal Security Instruments sells assets to Feit Electric for $6M; plans liquidation, $2.51/share distribution

UNIVERSAL SAFETY PRODUCTS, INC.

Asset sale to Feit Electric for $6M base cash; price adjusts based on inventory value at closing.
Board approves subsequent dissolution and liquidation; shareholder vote required (two-thirds).
Estimated distribution to shareholders of ~$2.51 per share, an 83% premium over Oct 29 close.
Closing conditions include shareholder approval; expects to distribute proceeds quickly after close.
Certain stockholders entered voting agreements to support the transaction.

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