Universal Safety Products, Inc. entered into a Securities Purchase Agreement with SJC Lending, LLC on June 12, 2026. The agreement provides for the sale of convertible promissory notes in an aggregate principal amount of up to $10.6 million for a total purchase price of up to $10 million. The financing will be conducted through eleven separate tranche closings. The initial tranche, closed on June 12, 2026, involved the issuance of a $1,060,000 principal note for $1,000,000. The notes carry an 8% annual interest rate, increasing to 20% upon an event of default, and mature one year from issuance. Conversion of the notes into common stock is subject to a floor price of $1.00 and a maximum price of $10.00, with a 20% discount to the lowest VWAP during the five trading days prior to conversion.