Socket Mobile closes $1.5M secured convertible note financing at 10% interest

SOCKET MOBILE, INC.

$1.5M in 3-year secured subordinated convertible notes due May 30, 2028; proceeds for working capital.
Notes carry 10% annual interest payable quarterly; principal convertible at $1.07 per share.
Insiders (CEO, CFO, Chairman, directors, controller, CTO) participated; special committee approved.
Notes secured by company assets, subordinated to Western Alliance Bank senior debt.

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