Socket Mobile extends convertible note maturity to August 30, 2025

SOCKET MOBILE, INC.

Secured subordinated convertible note maturity extended from August 30, 2024 to August 30, 2025.
Original note of $1,530,000 issued August 2020; previously amended November 2022 extending to August 2024.
Related parties (Chairman Charlie Bass, CEO Kevin Mills, CFO Lynn Zhao) hold notes; special committee approved.
All other terms and conditions of the notes remain in full force and effect.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SOCKET MOBILE, INC. amended Secured Subordinated Convertible Note Extension Agreement with requisite holders of the outstanding notes valued at Extension Agreement extending maturity date from August 30, 2024 to August 30, 2025 (effective 2024-05-01).

Action: amendment
Counterparty: requisite holders of the outstanding notes
Value: Extension Agreement extending maturity date from August 30, 2024 to August 30, 2025
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, the Company and the requisite holders of the outstanding notes entered into a Secured Subordinated Convertible Note Extension Agreement (the “Extension Agreement”), extending the maturity date of the notes from August 30, 2024, to August 30, 2025.

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SOCKET MOBILE, INC. filing history →

Source: SEC EDGAR

accession 0000944075-24-000021

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