secwatch.observer — SEC 8-K summary
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Issuer:     SOCKET MOBILE, INC. (SCKT)
CIK:        0000944075
Form:       8-K
Filed at:   2026-03-30T23:59:59+00:00
Accession:  0000944075-26-000025
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 $500K secured convertible note financing at 10% interest
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- Financing of $500,000 in secured subordinated convertible notes completed March 27, 2026.
- Notes mature March 27, 2029; 10% interest payable quarterly in cash.
- Conversion price $0.90 per share; holder can demand repayment after March 27, 2027.
- Proceeds to increase working capital; notes subordinated to Western Alliance Bank debt.
- Chairman Charlie Bass participated; disinterested directors approved transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944075/000094407526000025/0000944075-26-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944075/000094407526000025/form-8k0330.htm
  HTML page:      https://secwatch.observer/filing/0000944075-26-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer