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USBC, Inc. completed the divestiture of its legacy non-invasive sensor technology business to a buyer controlled by former executive Ronald P. Erickson for $1 plus revenue sharing and issued a $450,000 secured note.
USBC's divestiture simplifies its operations by offloading the legacy non-invasive sensor business to Particle Acquisition Corporation, controlled by former executive Ronald P. Erickson, for nominal $1 consideration plus future upside through 10% revenue sharing on covered products and potential acquisition proceeds share. This related-party transaction, approved by the independent Audit Committee, allows USBC to retain economic interest without ongoing operational burden. Concurrently, USBC provided a $450,000 bridge note at 10% interest to support the buyer's transition, secured against intellectual property with default remedies preserving USBC's fallback position. Erickson's departure from the Board and Science Division leadership was amicable, tied to the closing, with separation terms governed by his prior employment agreement. The move reallocates capital toward USBC's core tokenized deposit fintech initiative, as highlighted in the press release, positioning the company for strategic evolution in digital assets while minimizing immediate financial impact.
Event Type
Disclosure
Mandatory
Variant
8-K
. Entry into a Material Definitive Agreement.** On March 27, 2026 (the “Closing Date”), USBC, Inc. ("USBC" or the “Company”) completed the divestiture of its le
. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.** On March 27, 2026, the Company and the Bu
. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** Effective
and in the accompanying Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as am
. Financial Statements and Exhibits.** (d) Exhibits | Exhibit No. | | Description | |---|---|---| | | | | | 10.1† | | Stock Purchase Agreement, dated March 27,
Ronald P. Erickson
Effective: 2026-03-27
Not due to any disagreement
Material Agreement
Debt / Financing