UNIVERSAL SAFETY PRODUCTS, INC. (UUU) Form S-1 — Jul 10, 2026
Universal Safety Products filed an S-1 to register 10,600,000 shares of common stock for resale by SJC Lending LLC, issuable upon the conversion of $10.6 million in convertible promissory notes purchased for $10 million. The notes accrue interest at 8% per annum (20% upon default) and are convertible at a price equal to the greater of a $1.00 floor or 80% of the lowest VWAP over the prior five trading days. The company's ability to issue shares is currently limited to 19.99% of outstanding stock without further shareholder approval, although it intends to seek approval to issue the full amount.
Key figures
- Revenue
- 4847163
- Debt Amount
- 10600000
- Interest Rate
- 8%
- Shares Offered
- 10600000
- Shares Outstanding
- 3028463
- Market Price
- 4.12
- Note Purchase Price
- 10000000
- Default Interest Rate
- 20%
- Conversion Floor Price
- 1
- Conversion VWAPDiscount
- 80%
Price after filing
Close on the filing date to close N calendar days later (from $4.24). Historical, not a forecast.
AI analysis
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