secwatch.observer — SEC 8-K summary
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Issuer:     SOCKET MOBILE, INC. (SCKT)
CIK:        0000944075
Form:       8-K
Filed at:   2025-06-02T23:59:59+00:00
Accession:  0000944075-25-000029
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944075/000094407525000029/0000944075-25-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944075/000094407525000029/form-8k0602.htm
  HTML page:      https://secwatch.observer/filing/0000944075-25-000029

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