Corporate ActionMay 19, 2026, 04:38 PM
Universal Safety Products Converts Note, Issues 310,575 Shares
AI Summary
Universal Safety Products, Inc. announced the full conversion of a convertible note, resulting in the issuance of additional common stock. On March 11, 2026, the company issued 125,000 shares for $470,720 in principal and interest. Subsequently, on May 15, 2026, an additional 185,575 shares were issued for $886,872.70 in principal and interest, bringing the total shares outstanding to 3,028,362.
Key Highlights
- The convertible note issued on September 25, 2025, has been fully converted and is no longer outstanding.
- 125,000 shares of common stock were issued on March 11, 2026, upon conversion of $470,720 of principal and accrued interest.
- 185,575 shares of common stock were issued on May 15, 2026, upon conversion of $886,872.70 of principal and accrued interest.
- A total of 310,575 common shares were issued through these conversions.
- The shares were offered and sold in reliance on an exemption under Section 4(a)(2) of the Securities Act of 1933.
- As of May 15, 2026, the company had 3,028,362 shares of common stock outstanding.
Price Impact
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