SOCKET MOBILE, INC. (SCKT): debt financing — 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.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SOCKET MOBILE, INC. incurred convertible notes of $1,500,000 at 10% per year maturing May 30, 2028.

Instrument: convertible notes
Principal: $1,500,000
Rate: 10% per year
Maturity: May 30, 2028
Event: incurrence

Exact text from the filing

On May 30, 2025, Socket Mobile, Inc. (the “Company”) completed a secured subordinated convertible note financing of $1,500,000

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114 debt financings filed in the last 30 days. Browse all debt financings →

SOCKET MOBILE, INC. filing history →

Source: SEC EDGAR

accession 0000944075-25-000029

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