secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL SAFETY PRODUCTS, INC. (UUU)
CIK:        0000102109
Form:       8-K
Filed at:   2026-10-09T20:30:22+00:00
Accession:  0001104659-26-115059
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Universal Safety Products amends SJC Lending deal; up to $2.65M convertible notes, 8% interest, 1-year maturity
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- A&R Securities Purchase Agreement dated Oct 9, 2026 with SJC Lending LLC; convertible notes up to $2,650,000 aggregate principal for up to $2.5M purchase price.
- Notes: 8% interest (20% on default), mature 1 year from issuance, 6% original issue discount; convertible at greater of $1.00 floor or 80% of 5-day lowest VWAP, capped at $10.00.
- Initial $1,060,000 note issued June 12, 2026 ($1M price); second $530,000 note July 29, 2026 ($500K); final $1,060,000 tranche due within 30 days after resale registration effective.
- SJC gets Additional Investment Right to buy another $2.65M of notes for $2.5M within 3 months of final closing, up to $10.6M aggregate; plus 1-year right of first refusal on future offerings.
- Issuing Conversion Shares above 19.99% of outstanding common requires stockholder approval; company seeks new approval after July 31, 2026 vote covered only Original Agreement notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/102109/000110465926115059/0001104659-26-115059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/102109/000110465926115059/tm2627371d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-115059

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