Universal Safety Products, Inc. entered into a Securities Purchase Agreement with SJC Lending LLC for up to $10.0 million in convertible promissory notes through eleven separate tranche closings. The initial tranche closing on June 12, 2026, involved the issuance of a $1,060,000 principal face amount note with a 6% original issue discount and 8% annual interest. Conversion of the notes is subject to conversion price floors and floors and caps at $10.00 per share, with conversion into common stock is subject to subject to stockholder approval for issuances exceeding 19.99% of outstanding shares. Universal Safety Products, Inc. operates in the safety products industry and manufactures/distributes safety equipment and related products.