#USA #Fremont #Socket Mobile #financing #Convertible Note

Socket Mobile Secures $0.5 Million in Convertible Note Financing

Socket Mobile, Inc. (NASDAQ: SCKT), a company renowned for its innovative data capture and delivery solutions aimed at enhancing workplace productivity, has recently completed a secured subordinated convertible note financing amounting to $0.5 million. This move is expected to bolster the company's working capital, ensuring that they can continue to deliver high-quality solutions to their customers while navigating the evolving demands of their market.

The secured notes have a term of three years and will reach maturity on March 27, 2029. During this period, they will accrue interest at a rate of 10%, with payments occurring quarterly in cash. Notably, the holders of these notes will have the option to demand repayment of the principal along with any accrued interest after March 27, 2027, providing them with a level of flexibility and security as their investment unfolds. Furthermore, these notes are secured by the company’s assets, although they are subordinate to its existing debts with Western Alliance Bank, a senior lending partner.

A significant aspect of this financing deal is that each note's principal amount can be converted into shares of Socket Mobile’s common stock at a conversion price of $0.90 per share. This price reflects the closing price of the stock on the Nasdaq Capital Market as of March 27, 2026, and the most recent share closing price at the time of financing. This opportunity allows investors to benefit from potential equity growth as the company continues to expand its operations and market presence.

In terms of company leadership involvement, Charlie Bass, who serves as the Chairman of Socket Mobile's Board of Directors, also participated in this financing. His involvement is expected to bolster trust and interest among other investors and stakeholders, given his established reputation within the tech industry. Further details regarding this financing will be disclosed in a Form 8-K document that the company will file with the U.S. Securities and Exchange Commission (SEC).

About Socket Mobile

Socket Mobile is recognized as a leading provider of data capture and delivery solutions, with a primary focus on optimizing productivity within various business sectors through workforce mobilization. The company’s revenue is significantly inspired by its deployment of third-party barcode-enabled applications, which leverage Socket Mobile's cordless barcode scanners and contactless readers. Notable application markets include specialty retail, digital ID, field service, transportation, and manufacturing, which through their diverse nature, remain critical in driving the company's revenue streams.

Currently headquartered in Fremont, California, Socket Mobile maintains a robust network of developers who utilize their software developer tools to integrate sophisticated data capture features into mobile applications. This collaborative ecosystem is crucial for continuing to meet the increasing demands for innovative data solutions in a rapidly evolving digital landscape. The company encourages developers and businesses alike to tap into their expertise and technological offerings to elevate their operations.

For more information about Socket Mobile and its range of products, interested parties can visit their website at www.socketmobile.com. Follow Socket Mobile on platforms like LinkedIn and X for the latest updates and industry news.