RTTNews | Oct 29, 2020 05:53AM EDT

05:52 Thursday, October 29, 2020 (RTTNews.com) - Shares of Universal Security Instruments, Inc. (UUU) are surging more than 80% in the premarket hours on Thursday at $3.69.

Universal Security Instruments said in its filing that it had been in discussions with various candidates for a possible merger and one company has come up with a proposal. "Management intends to present the draft Proposed Merger Agreement to USI's Board for consideration within the next few days," the filing showed.

UUU stock closed at $2.01 on Wednesday's regular trading.

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