Socket Mobile Inc. Completes $1.5 Million Secured Subordinated Convertible Note Financing

Reuters
02 Jun
Socket Mobile Inc. Completes $1.5 Million Secured Subordinated Convertible Note Financing

Socket Mobile Inc. has announced the completion of a secured subordinated convertible note financing valued at $1.5 million. The notes have a three-year term and will mature on May 30, 2028, with an interest rate of 10% payable quarterly in cash. The principal amount of each note can be converted into shares of the company's common stock at a conversion price of $1.07 per share. The notes are secured by the company's assets and are subordinated to debts with Western Alliance Bank, the senior lender. Participants in this financing include key members of the company's board and management team. Additional details will be filed in Form 8-K with the SEC.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Socket Mobile Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: SF00304) on June 02, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10