UNIVERSAL SAFETY PRODUCTS, INC. (UUU): debt financing — Universal Safety Products enters $10.6M convertible note financing with SJC Lending

UNIVERSAL SAFETY PRODUCTS, INC.

Up to $10.6M principal convertible notes sold to SJC Lending for $10M cash; initial $1.06M note issued for $1M.
Conversion price: greater of $1.00 floor or 80% of 5-day lowest VWAP, capped at $10; 8% interest (20% on default).
Stockholder approval required for issuances exceeding 19.99% of outstanding shares; 90-day no-issuance restriction imposed.
Maturity one year; SJC gets 1-year right of first refusal on future equity offerings.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

UNIVERSAL SAFETY PRODUCTS, INC. incurred convertible notes of aggregate principal amount of up to $10,600,000 with SJC Lending LLC at 8% per annum, unless an event of default occurs, at which time the Convertible N maturing first anniversary of issuance.

Instrument: convertible notes
Principal: aggregate principal amount of up to $10,600,000
Counterparty: SJC Lending LLC
Rate: 8% per annum, unless an event of default occurs, at which time the Convertible N
Maturity: first anniversary of issuance
Event: incurrence

Exact text from the filing

LLC, a Delaware limited liability company (“ SJC ”), pursuant to which the Company agreed to sell to SJC convertible promissory notes in the aggregate principal amount of up to $10,600,000 (the “ Convertible Notes ”) for a total purchase price of up to $10.0 million dollars (the “ Loan ”), The consummation of the transactions contemplated by the Agreement,

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

UNIVERSAL SAFETY PRODUCTS, INC. entered into Securities Purchase Agreement with SJC Lending LLC valued at up to $10,600,000 aggregate principal amount of convertible promissory notes (effective 2026-06-12).

Action: entry
Agreement: credit facility
Counterparty: SJC Lending LLC
Value: up to $10,600,000 aggregate principal amount of convertible promissory notes
Effective: 2026-06-12

Exact text from the filing

On June 12, 2026 (the “ Execution Date ”), Universal Safety Products, Inc., a Maryland corporation (the “ Company ”) entered into a Securities Purchase Agreement (the “ Agreement ”) with SJC Lending LLC, a Delaware limited liability company (“ SJC ”), pursuant to which the Company agreed to sell to SJC convertible promissory notes in the aggregate principal amount of up to $10,600,000 (the “ Convertible Notes ”) for a total purchase price of up to $10.0 million dollars (the “ Loan ”),

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296 debt financings filed in the last 30 days. Browse all debt financings →

UNIVERSAL SAFETY PRODUCTS, INC. filing history →

Source: SEC EDGAR

accession 0001104659-26-073513

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