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Socket Mobile Strengthens Balance Sheet with a Secured Subordinated Convertible Note Financing of $1.5 Million
Prnewswireยท 2025-06-02 13:00
FREMONT, Calif., June 2, 2025 /PRNewswire/ -- Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions for enhanced productivity, today announced completion of a secured subordinated convertible note financing of $1,500,000. The proceeds will be used to increase the Company's working capital balances.The notes have a three-year term and will mature on May 30, 2028. The interest rate on the notes is 10%, payable quarterly in cash. The holder of each note may require the C ...