USI closes asset sale to Feit Electric for ~$4.96M; appoints two directors

UNIVERSAL SAFETY PRODUCTS, INC.

Asset sale closed May 22, 2025; purchase price of $4,955,107.90 based on eligible inventory value.
Company will continue importing/marketing product lines other than smoke/CO alarms after the closing.
Pro forma shows gain on sale $3.27M, net income $2.02M vs historical loss of $0.80M for nine months through Dec 31, 2024.
Board appoints Henry Nisser and Milton C. (Todd) Ault, III as independent directors under MOU with Ault & Company.
Amendment to Asset Purchase Agreement reflects that the Company will not dissolve and will continue operations.

item 1.01item 2.01item 5.02item 9.01

Executive movements

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Appointed

Henry Nisser

director

UUU · UNIVERSAL SAFETY PRODUCTS, INC.

Effective: 2025-05-22
Filed: May 29, 2025 23:59 UTC

Henry Nisser was appointed to serve as a director until the 2026 Annual Meeting of Shareholders or until his successor is duly elected and qualifies

Appointed

Milton C. (Todd) Ault, III

director

UUU · UNIVERSAL SAFETY PRODUCTS, INC.

Effective: 2025-05-22
Filed: May 29, 2025 23:59 UTC

Milton C. (Todd) Ault, III was appointed to serve as a director until the 2027 Annual Meeting of Shareholders or until his successor is duly elected and qualifies

Source: SEC EDGAR

accession 0001104659-25-054288

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