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.

item 1.01item 2.03item 3.02item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.