UNIVERSAL SAFETY PRODUCTS, INC. 8-K

What Happened
Universal Safety Products, Inc. announced that a convertible note issued September 25, 2025 was fully converted into common stock in two transactions. On March 11, 2026 the company issued 125,000 shares upon conversion of $470,720 of principal and accrued interest, and on May 15, 2026 it issued 185,575 shares upon conversion of $886,872.70. The Convertible Note is now fully converted and no longer outstanding.

Key Details

• Shares issued: 125,000 (Mar 11, 2026) and 185,575 (May 15, 2026) — total 310,575 shares issued.
• Amounts converted: $470,720 (Mar 11) and $886,872.70 (May 15) of principal plus accrued interest.
• Status: Convertible Note fully converted and extinguished.
• Outstanding shares: 3,028,362 common shares outstanding as of May 15, 2026.
• Registration/exemption: Shares were issued in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act.

Why It Matters
For investors, the conversions reduce the company’s convertible debt liability while increasing the number of common shares outstanding, which dilutes existing holders’ percentage ownership. The extinguishment of the Convertible Note changes the company’s capital structure by removing that debt instrument; investors should note the updated outstanding share count when assessing per-share metrics.