Socket Mobile Issues $500K Secured Convertible Notes

Socket Mobile, Inc. disclosed a secured subordinated convertible note dated March 27, 2026 as part of a series totaling $500,000.00 in aggregate principal amount. The note bears interest at 10% per annum, calculated on a 365-day basis.

The note matures on March 27, 2029 unless earlier repaid or converted into Socket Mobile common stock. Holders can request repayment of principal plus accrued interest any time on or after March 27, 2027, with payment due within 10 business days after the company receives the request. The note also includes mandatory prepayment upon a change of control.