Socket Mobile Strengthens Balance Sheet with a Secured Subordinated Convertible Note Financing of $1.0 Million

FREMONT, Calif., Aug. 22, 2024 /PRNewswire/ -- Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions for enhanced productivity, today announced completion of a net secured subordinated convertible note financing of $1,000,000. The proceeds will be used to increase the Company's working capital balances. The notes have a three-year term and will mature on August 21, 2027. The interest rate on the notes is 10%, payable quarterly in cash. The holder of each note may requ ...