UNIVERSAL SAFETY PRODUCTS, INC. (UUU): debt financing — Universal Safety Products enters into $2.75M convertible note agreement with SJC Lending LLC

UNIVERSAL SAFETY PRODUCTS, INC.

Agreement provides for up to $2.75M principal amount of convertible notes, purchased for $2.5M total.
Initial tranche closed on Aug 13, 2025: $1.1M note issued for $1M purchase price.
Notes accrue 8% interest (20% upon default), mature one year from issuance.
Conversion price is greater of $1.00 floor or 80% of 10-day VWAP, capped at $10.00 per share.
Issuance of shares beyond 19.99% of outstanding common stock requires stockholder approval and exchange approval.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

UNIVERSAL SAFETY PRODUCTS, INC. incurred convertible notes of $1,100,000 with SJC Lending LLC at 8% per annum maturing first anniversary of issuance.

Instrument: convertible notes
Principal: $1,100,000
Counterparty: SJC Lending LLC
Rate: 8% per annum
Maturity: first anniversary of issuance
Event: incurrence

Exact text from the filing

The first Convertible Note, which was issued to SJC on the Execution Date, has a principal face amount of $1,100,000

View on SEC.gov

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UNIVERSAL SAFETY PRODUCTS, INC. filing history →

Source: SEC EDGAR

accession 0001104659-25-078006

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