Recent Updates — UUU
Universal Safety Products, Inc. filed articles of amendment with the Maryland State Department of Assessments and Taxation on October 14, 2026, to change its corporate name to DeFi Capital Markets, Inc. The name change becomes effective at 12:01 a.m. Eastern time on October 19, 2026. The board approved the change without requiring stockholder action under Maryland law. Universal Safety Products manufactures safety products for industrial and commercial use.
On October 9, 2026, Universal Safety Products entered into an amended and restated Securities Purchase Agreement with SJC Lending LLC to issue convertible promissory notes with a total principal amount of up to $2,650,000 for a purchase price of $2.5 million. The transaction is structured in three tranches: the first tranche of $1,060,000 closed on June 12, 2026; the second tranche of $530,000 closed on July 29, 2026; and the final tranche is contingent upon SEC registration of the underlying shares. The notes carry an 8% annual interest rate, mature one year after issuance, and convert at a price equal to the greater of $1.00 or 80% of the five-day VWAP, capped at $10.00 per share. Stockholder approval is required for conversions exceeding 19.99% of outstanding shares. Universal Safety Products manufactures safety products.
Universal Safety Products, Inc. announced it will change its name to DeFi Capital Markets, Inc., effective October 19, 2026. The company's common stock is expected to begin trading under the new ticker symbol "DCM" on the NYSE American on that date. Concurrently, the Board approved a change in fiscal year-end from March 31 to December 31, resulting in a transition report for the period April 1, 2026, to December 31, 2026. The company is transitioning its business focus from safety products to digital assets, including tokenization technology, proprietary quantitative trading, and market making.
Universal Safety Products, Inc. filed articles of amendment to its Articles of Incorporation with the Maryland State Department of Assessments and Taxation on August 7, 2026. The amendments increase the authorized number of common stock shares from 20,000,000 to 525,000,000 and eliminate super-majority voting requirements for future charter amendments, reducing the threshold to a simple majority. These changes were approved by the board on June 12, 2026, and ratified by stockholders at a special meeting on July 31, 2026. The filing becomes effective upon acceptance by the SDAT. Universal Safety Products, Inc. manufactures safety products for industrial and commercial applications.
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.