UNIVERSAL SECURITY INSTRUMENTS INC

Form Type: DEFM14A

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: New

Accession Number: 000110465924131120

Comments: Universal Security Instruments, Inc. is holding a Special Meeting of Shareholders on January 23, 2025, to vote on several proposals including the sale of substantially all company assets to Feit Electric Company, Inc., and subsequent voluntary dissolution of the company. The Board of Directors has unanimously recommended the proposals, which also include a name change to 'Universal Safety Products, Inc.' and granting authority to adjourn the meeting if necessary. Shareholders must approve the asset sale and dissolution with a two-thirds majority of the outstanding shares. The sale and liquidation could return approximately $2.51 to $2.58 per share, representing an 83% to 88% premium over the stock price as of October 29, 2024. Shareholders do not have dissenters’ rights related to the proposals, and if approved, the Company plans to deregister its shares and delist from the NYSE following the asset sale. The meeting is essential for shareholder input on the future of the company, and voting can be done online, by mail, or in-person at the meeting.

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