{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-073513","form_type":"8-K","ticker":"UUU","cik":"0000102109","company_name":"UNIVERSAL SAFETY PRODUCTS, INC.","filed_at":"2026-06-12T20:31:16+00:00","discovered_at":"2026-06-12T20:32:00.328483+00:00","generated_at":"2026-06-12T20:52:05.269483+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Universal Safety Products enters $10.6M convertible note financing with SJC Lending","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-073513","json":"https://secwatch.observer/filing/0001104659-26-073513.json","markdown":"https://secwatch.observer/filing/0001104659-26-073513.md","text":"https://secwatch.observer/filing/0001104659-26-073513.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/102109/000110465926073513/0001104659-26-073513-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/102109/000110465926073513/tm2617757d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T20:52:05.269483+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0c035355e768282e61bad5991ac5e5d7847d23c5","claim":"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.","evidence_excerpt":"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,","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/102109/000110465926073513/0001104659-26-073513-index.htm","confidence":0.98,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"aggregate principal amount of up to $10,600,000"},{"label":"Counterparty","value":"SJC Lending LLC"},{"label":"Rate","value":"8% per annum, unless an event of default occurs, at which time the Convertible N"},{"label":"Maturity","value":"first anniversary of issuance"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"848f7e09c2a9e5bc2a48c92937f0fa6c8ddf0a1d","claim":"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).","evidence_excerpt":"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 ”),","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/102109/000110465926073513/0001104659-26-073513-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"SJC Lending LLC"},{"label":"Value","value":"up to $10,600,000 aggregate principal amount of convertible promissory notes"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}