As filed with the Securities
and Exchange Commission on November 12, 2024
Registration No. 333-_____ |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM S-3
REGISTRATION STATEMENT
Under
The Securities Act of 1933
______________________
SOCKET MOBILE, INC.
(Exact name of registrant as specified in its charter)
______________________
| Delaware |
|
94-3155066 |
| (State of incorporation) |
|
(IRS Employer Identification No.) |
40675 Encyclopedia Cir.
Fremont, CA 94538
(510) 933-3000
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
______________________
Lynn Zhao
Chief Financial Officer
Socket Mobile, Inc.
40675 Encyclopedia Cir.
Fremont, CA 94538
(510) 933-3016
(Name, address, including zip code, and telephone number, including area code, of agent for service)
______________________
Copies to:
Erika M. Muhl
Wilson Sonsini Goodrich & Rosati
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304
(650) 493-9300
______________________
| Approximate date of commencement of proposed sale to the public: From time to time after this registration statement becomes effective. |
| |
| If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. [_] |
| |
| If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. [X] |
| |
| If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [_] |
| |
| If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [_] |
| |
| If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. [_] |
| |
| If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. [_] |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. |
| Large accelerated filer [_] |
Accelerated filer [_] |
| Non-accelerated filer [X] |
Smaller reporting company [X]
Emerging growth company [_]
|
|
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. [_]
|
The
registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the
registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective
in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such
date as the Commission acting pursuant to said Section 8(a) may determine.
The
information in this prospectus is not complete and may be changed. The selling stockholders may not sell these securities until the registration
statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and
it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
SUBJECT TO COMPLETION, DATED November 12,
2024
PROSPECTUS
1,050,970 Shares
Socket Mobile, Inc.
Common Stock
This prospectus relates
to 1,050,970 shares of our common stock (“Common Stock”) which may be sold from time to time by certain stockholders
set forth in the “Selling Stockholders” section of this prospectus. The shares offered by this prospectus represent shares
issuable to the selling stockholders or their transferees upon conversion of secured subordinated convertible notes.
The prices at which the
selling stockholders or their transferees may sell the shares may be determined by the prevailing market prices for the shares or in negotiated
transactions. We will not receive any proceeds from the sale of the shares offered by this prospectus.
Our Common Stock is quoted
on the Nasdaq Capital Market under the symbol “SCKT.” On November 5, 2024, the last reported sale price for our Common Stock
on the Nasdaq Capital Market was $1.14 per share.
Investment in the securities
involves a high degree of risk. You should read the section entitled “Risk Factors” beginning on page 5 of this prospectus,
as well as the risk factors that are incorporated by reference into this prospectus from our filings made with the Securities and Exchange
Commission.
NEITHER
THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON
THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this prospectus
is , 2024.
ABOUT THIS PROSPECTUS
This prospectus is part of a resale
registration statement that we filed with the Securities and Exchange Commission (“SEC”) using a “shelf”
registration process. Under this shelf registration process, the selling stockholders may, from time to time, offer and sell the Common
Stock described in this prospectus.
You should rely only on the information
contained in, or incorporated by reference into, this prospectus or contained in any free writing prospectus prepared by or on behalf
of us or to which we have referred you. Neither we nor the selling stockholders have authorized anyone to provide any information or to
make any representations other than those contained in, or incorporated by reference into, this prospectus or in any free writing prospectuses
prepared by or on behalf of us or to which we have referred you. We and the selling stockholders take no responsibility for, and can provide
no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities
offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in, or incorporated
by reference into, this prospectus is accurate only as of its date regardless of the time of delivery of this prospectus or of any sale
of securities. Our business, financial condition, operating results and prospects may have changed since that date.
You should also read and consider
the information in the documents to which we have referred you under the captions “Where You Can Find More Information” and
“Information Incorporated by Reference” in this prospectus.
For investors outside the United
States, neither we nor the selling stockholders have done anything that would permit this offering or possession or distribution of this
prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons who come into possession
of this prospectus and any free writing prospectus related to this offering in jurisdictions outside the United States are required to
inform themselves about and to observe any restrictions as to this offering and the distribution of this prospectus and any such free
writing prospectus applicable to that jurisdiction.
As used in this prospectus, unless
otherwise indicated or the context otherwise requires, the terms “we,” “our,” “us,” or similar terms
refer to Socket Mobile, Inc. When we refer to “you,” we mean the potential holders of the shares of our Common Stock.
PROSPECTUS SUMMARY
This summary highlights
important features of this offering and the information included or incorporated by reference in this prospectus. This summary does not
contain all of the information that you should consider before investing in our Common Stock. You should read the entire prospectus carefully,
especially the risks of investing in our Common Stock discussed under “Risk Factors” and the financial statements and related
notes and other information that we incorporate by reference herein, including our Annual Report on Form 10-K and our Quarterly Reports
on Form 10-Q.
The Company
We are a leading provider
of data capture and delivery solutions for enhanced productivity in workforce mobilization. Our products are incorporated into mobile
applications used in point of sale (POS), commercial services (field workers), asset tracking, manufacturing process and quality control,
transportation and logistics (goods tracking and movement), event management (ticketing, entry, access control, and identification), medical
and education. Our primary products are cordless data capture devices incorporating barcode scanning or RFID/Near Field Communications
(NFC) technologies that connect over Bluetooth. All products work with applications running on smartphones, mobile computers and tablets
using operating systems from Apple® (iOS), Google™ (Android™) and Microsoft® (Windows®). We offer an easy-to-use
software developer kit (CaptureSDK) to application providers, which enables them to provide their users with our advanced barcode scanning
features. Our products are integrated in their application solutions and are marketed by the application providers or the resellers of
their applications. The number of our registered application providers for data capture applications continues to grow.
XtremeScan family.
In August 2023we made entry into the industrial barcode scanning market with the XtremeScan family. XtremeScan combines the versatility
and user-friendliness of iPhones with the ruggedness and top-of-the-line protection required for extreme, industrial work environments.
XtremeScan Case XC100 offers ultimate iPhone protection with its rugged outer shell and fully enclosed, rubberized shielding for maximum
durability. It's the toughest iPhone case on the market, offering military-grade protection against drops, dirt, water, and even more
unpredictable elements found in harsh industrial environments. XtremeScan XS930 & XS940 are built upon the XtremeScan Case and provide
the same rugged iPhone protection, adding a high-performance Socket Mobile data reader. With both 1D (XS930) and powerful 1D/2D (XS940)
options, these data readers can scan through various types of packaging materials under different lighting conditions. They provide the
perfect solution for users who wish to utilize iPhones for data capture within rough, industrial settings. XtremeScan Grip XG930 &
XG940 provides 1D or 1D/2D barcode scanning capabilities and builds even further on the XS by providing an added pistol grip handle. The
ergonomic grip enables an easy point-and-shoot approach and comfort during extended scanning sessions.
SocketCam family.
Our camera-based barcode scanning software includes SocketCam C820 and C860 for both iOS and Android. The C820 is a free, easily integrated
camera scanning solution. The C860 offers a significant upgrade for users with advanced scanning needs. It stands out due to its swift
and accurate reading of damaged barcodes, coupled with exceptional performance in poor lighting conditions, setting it apart from others
in the industry. The C820 and C860 enable App providers to service a wide range of customers with various data capture requirements, from
price-sensitive to performance-sensitive. End-users whose data capture requirements exceed the capabilities of the free camera-based scanners
will have the choice of upgrading to an advanced camera-based scanner, C860, or purchase a Socket hardware scanner.
DuraScan® Family.
Our DuraScan® family consists of 700 Series (D700, D720, D730, D740, D745, D755, D760) companion scanners, 800 Series (D800, D820,
D840, D860) attachable scanners and Wearable (DW930, DW940), which are designed to be durable barcode scanners with IP54-rated outer casing
to withstand tougher environments. The D720 is priced competitively with a 1D barcode scanner, making it the affordable 2D option available
in the market. The D820 provides a basic and affordable option for those who wish to upgrade to 2D scanning. The D745 and D755 are medical-grade,
universal scanners. The D760 and D860 include MRZ (machine-readable zone) support, making it capable of scanning passports, visas, and
other travel documents. Additionally, the 800 Series scanners may be used as stand-alone devices as well.
DuraScan Wear DW930 &
DW940 are the first wearable additions to the DuraScan Product Family, introducing a new era of innovative scanning technologies for the
Company. The DW930 offers 1D laser scanning technology, while the DW940 provides powerful 1D/2D barcode scanning functionality. Their
glove-like, wearable design allows workers to use both hands freely, enhancing speed and flexibility. This makes them perfect for scanning
in industries such as warehousing, manufacturing, and distribution.
SocketScan family.
Our SocketScan family consists of the 700 Series (S700, S720, S730, S740) companion scanners and 800 Series (S800, S820, S840, S860) attachable
scanners. The 700 Series are available in multiple vivid colors: blue, green, red, white, yellow and black. The S720 reads both 1D and
2D barcodes on paper and screen, serving as a drop-in replacement for our previously popular S700 model while also adding QR code functionality.
The 800 Series comprises 1D linear imaging (S800) and 2D (S820, S840, S860), which can be easily clipped onto smartphones, tablets and
other mobile devices using an easily detachable clip or DuraCase, creating a one-handed solution. The S860 includes MRZ (machine-readable
zone) support, allowing it scan passports, visas, and other travel documents in addition to barcodes. Additionally, the 800 Series scanners
may be used as stand-alone devices as well.
DuraSled Family.
Our DuraSled (DS800, DS820, DS840, DS860) is a barcode scanning sled designed for durability. It combines a phone with a scanner to create
a one-handed solution. DuraSled protects phones from impact damage and provides a robust charging solution for all environments. It
is easy-to-use and ideal for delivery services, stock counting, ticketing and other App-driven mobile
solutions. The DuraSled products are compatible with Apple and Samsung devices. The DS820 provides a basic and affordable
option for those who wish to upgrade to 2D scanning.
NFC & RFID Contactless
Reader/Writer. The product line consists of the D600, S550 and S370. The D600 is an ergonomically handheld model with an IP54-rated
outer casing that can read and write various types of electronic SmartTags or transfer data with near-field communication. The S550 is a
contactless membership card reader/writer designed for tap-and-go smart card and Near Field Communication (“NFC”) applications.
The S370 supports both barcode scanning and NFC reading and writing technologies. It provides App providers the ability to read both QR
code-based and NFC-based credentials, enabling them to accept multiple formats with just one device. Additionally, the S370 can read credentials
following ISO 18013-5, the Mobile Driver’s License (mDL) standard being adopted in some states and countries.
Software Developer
Kit (CaptureSDK). Our Software Developer Kit (CaptureSDK) supports all our data capture devices with a single integration, making
it easier for App providers to integrate our data capture capabilities into their applications. With the installation of our data capture
software, the App providers’ customers can choose any of our products that work best for them. Our CaptureSDK enables the App providers
to modify captured data, control the placement of the barcoded or RFID data in their applications, and control the feedback to the user
that the transaction and transmission were successfully completed. Our CaptureSDK also supports the built-in camera in a customer’s
smartphone or tablet to be used for occasional or lower-volume data collection requirements. The CaptureSDK uses tools integrated with
software building environments such as Swift Package Manager, Maven and NuGet, adds support for high-level frameworks such as MAUI, ReactNative,
Java, JavaScript, and Flutter and adds other features to make it easier for App providers to integrate our data capture software into
their applications.
We design our own products
and are responsible for all associated test equipment. We subcontract the manufacturing of all our product components to independent third-party
contract manufacturers located in the United States, Mexico, Taiwan, Singapore, Malaysia and China that have the equipment, know-how and
capacity to manufacture products to our specifications. We perform final product assembly, testing and packaging at, and distribute our
products from, our Fremont, California facility. We offer our products worldwide through two-tier distribution enabling customers to purchase
from large numbers of online resellers around the world including application providers who resell their own solutions along with our
data capture products. Our products are also available on our online stores.
We believe growth in mobile
applications and the mobile workforce resulting from technical advances in mobile technologies, cost reductions in mobile devices and
the growing adoption by businesses of mobile applications for smartphones and tablets, builds a growing demand for our products. Our data
capture products address the need for speed and accuracy by today’s mobile workers and by the systems supporting those workers,
thereby enhancing their productivity and allowing them to exploit time-sensitive opportunities and improve customer satisfaction.
Corporate Information
We were founded in March 1992 as Socket
Communications, Inc. and reincorporated in Delaware in 1995 prior to our initial public offering in June 1995. We have financed our operations
since inception primarily from the sale of equity capital or convertible debt and a receivables-based revolving line of credit with our
bank. We began doing business as Socket Mobile, Inc. in January 2007 to better reflect our market focus on the mobile business market
and changed our legal name to Socket Mobile, Inc. in April 2008. Our principal executive office is located at 40675 Encyclopedia Cir.,
Fremont, CA 94538, and our phone number is (510) 933-3000. Our Internet home page is located at www.socketmobile.com; however,
the information on, or that can be accessed through, our home page is not part of this registration statement. Our annual reports on Form
10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to such reports are available free of charge on
or through our Internet home page as soon as reasonably practical after we electronically file such material with, or furnish it to, the
SEC.
Subordinated
Convertible Notes
On August 21, 2024, we completed
a secured subordinated convertible note financing for proceeds of $1,000,000.
The secured subordinated
convertible notes (collectively, the “Notes”) have a three-year term and will mature on August 21, 2027. The interest
rate on the Notes is 10% per year, payable quarterly in cash. The holder of each Note may require us to repay the principal amount of
the Note at any time after August 21, 2025.
The Notes are secured by
our assets and are subordinated to our debts with Western Alliance Bank, our senior lender. The principal amount of each Note is convertible
at any time, at the option of the holder, into shares of our Common Stock at a conversion price of $0.9515 per share. Failure to pay the
principal amount or any interest (with 5 days delinquency) when due are events of default under the Notes.
We
issued the Notes in reliance on an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 (the “Securities
Act”), as amended. As of the filing date for this registration statement, no Notes have been converted into Common Stock by
the holders. We are now registering for resale under this prospectus the maximum number of shares of Common Stock currently issuable to
the investors upon conversion of the Notes through the Note maturity date of August 21, 2027, plus an indeterminate number of additional
shares of common stock as may from time to time be issued or issuable with respect to the foregoing securities as a result of stock splits,
stock dividends, reclassifications, recapitalizations, combinations or similar events.
The
Offering
| Common Stock offered by selling stockholders |
1,050,970 shares of our Common Stock issuable upon conversion of the Notes. |
| Use of proceeds |
We will not receive any proceeds from the sale of shares in this offering. |
| Nasdaq Capital Market symbol |
SCKT |
RISK FACTORS
An
investment in our securities involves a high degree of risk. Prior to making a decision about investing in our securities, you should
carefully consider the specific factors discussed in our annual and quarterly reports filed with the SEC, all of which are incorporated
herein by reference, before deciding to purchase shares of our Common Stock, including the risks, uncertainties and assumptions discussed
under “Part I—Item 1A—Risk Factors” of our most recent Annual Report on Form 10-K and in “Part II—Item
1A—Risk Factors” in our most recent Quarterly Reports on Form 10-Q filed subsequent to such Form 10-K, as may be amended,
supplemented or superseded from time to time by other reports we file with the SEC in the future. The risks and uncertainties we have
described are not the only ones we face. Additional risks and uncertainties not currently known to us or that we currently deem immaterial
may also affect our operations.
FORWARD-LOOKING STATEMENTS
This prospectus contains
forward-looking statements within the meaning of the securities laws. These forward-looking statements are subject to a number of risks
and uncertainties, many of which are beyond our control. All statements other than statements of historical facts included in this prospectus,
including any statements under “Prospectus Summary” and elsewhere in or incorporated into this prospectus regarding our strategy,
future operations, financial position, results of operations, cash flows, prospects, plans and objectives of management, are forward-looking
statements. When used in this prospectus, the words “will,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such identifying words. All forward-looking statements speak only as of the date of
this prospectus. Neither we nor any of the selling stockholders undertake any obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or otherwise. Although we believe that our plans, intentions and expectations
reflected in or suggested by the forward-looking statements we make in this prospectus are reasonable, ultimately we may not achieve such
plans, intentions or expectations.
We disclose important factors
that could cause our actual results to differ materially from our expectations under “Risk Factors” and elsewhere in this
prospectus. Such factors include, among others, the following: our ability to raise sufficient capital to fund our operations; our ability
to achieve profitability; developments in the market for our products, including the market for smartphones, mobile computers, and tablets
using the operating systems from Apple, Google and Microsoft; developments in our relationships with our strategic partners; and world
economic and financial conditions. These cautionary statements qualify all forward-looking statements attributable to us or persons acting
on our behalf.
USE OF PROCEEDS
We
will not receive any of the proceeds from the sale of the shares sold under this prospectus. The conversion of the Notes will relieve
the Company of up to $1,000,000 in obligations that would otherwise be paid to note holders in cash (a maximum of 1,050,970 shares of
Common Stock at the conversion price of $0.9515 per share). All proceeds from the sale of the shares will be for the account of the selling
stockholders. See “Selling Stockholders” and “Plan of Distribution.”
SELLING STOCKHOLDERS
The shares of Common Stock
covered by this prospectus consist of shares issuable upon the conversion of the principal of the Notes into Common Stock. The Notes may
be converted by their holders into Common Stock at any time. The registration statement of which this prospectus is a part has been filed
in accordance with the terms of the Notes. The table below sets forth, to our knowledge, information about the holders of the Notes as
of November 5, 2024, who may become selling stockholders hereunder.
We do not know when or in
what amounts the selling stockholders may offer shares for sale. The selling stockholders may sell any or all of the shares offered by
this prospectus. Because the selling stockholders may offer all or some of the shares pursuant to this prospectus, and because there are
currently no agreements, arrangements or understandings with respect to the sale of any of the shares, we cannot estimate the number of
shares that will be held by the selling stockholders after completion of this offering. For purposes of the table below, however, we have
assumed that the selling stockholders will sell all shares issuable upon conversion of the Notes, such that, after completion of this
offering, none of the shares covered by this prospectus will be held by the selling stockholders.
In the table below, beneficial
ownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to shares of our
Common Stock. Unless otherwise indicated below, to our knowledge, the selling stockholders named in the table have sole voting and investment
power with respect to the shares of Common Stock beneficially owned by them. The number of shares of Common Stock beneficially owned prior
to the offering shown in the table for each selling stockholder includes (i) all shares held by the selling stockholder prior to the issue
of the Notes, plus (ii) all shares issuable upon conversion of the Notes being offered pursuant to the prospectus.
Under the terms of the Notes,
a selling stockholder may not convert their Note into shares of our Common Stock to the extent such conversion would result in the aggregate
number of shares issued upon conversion of the Notes exceeding the number we may issue without breaching our obligations under the rules
or regulations of the Nasdaq Capital Market, except that this limitation will not apply in the event that we: (i) obtain the approval
of our stockholders, as required by the applicable rules of the Nasdaq Capital Market, for issuances of shares upon conversion of the
Notes in excess of such amount, or (ii) obtain a written opinion from outside counsel to us that such approval is not required, which
opinion is reasonably satisfactory to the applicable selling stockholder. The number of shares in the second column in the table below
does not reflect this limitation, but rather assumes that the selling stockholders may sell all, some or none of their shares in this
offering. See “Plan of Distribution.”
Throughout this prospectus,
when we refer to the “selling stockholders,” we mean the persons listed in the table below, as well as any pledgees, donees,
assignees, transferees, successors and others who may later hold any of the selling stockholders’ interests, and when we refer to
the shares of our Common Stock being offered by this prospectus on behalf of the selling stockholders, we are referring to the shares
of our Common Stock issuable upon the conversion of Notes, collectively, unless otherwise indicated.
The selling stockholders
may have sold or transferred, in transactions exempt from the registration requirements of the Securities Act, some or all of their shares
of Common Stock since the date as of which the information in the table below is presented. Information about the selling stockholders
may change over time.
Unless otherwise noted below,
the address of each stockholder listed in the table below is c/o Socket Mobile, Inc., 40675 Encyclopedia Cir, Fremont, CA 94538.
| | |
Shares Beneficially | |
Shares Being | |
Shares Beneficially Owned |
| | |
| Owned Prior to | | |
| Registered for | | |
| After Offering
| |
| Name | |
| Offering | | |
| Resale | | |
| Number | | |
| Percent (1) | |
| Charlie Bass (2) | |
| 3,507,485 | | |
| 551,760 | | |
| 2,955,725 | | |
| 38.8 | % |
| Bill Parnell (3) | |
| 217,473 | | |
| 105,097 | | |
| 112,376 | | |
| 1.5 | % |
| Eric Glaenzer (4) | |
| 91,406 | | |
| 26,274 | | |
| 65,132 | | |
| * | |
| (1) | Based upon 7,605,270 shares of Common Stock outstanding as of the close of business on November 5, 2024
and calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934. |
| (2) | Consists of (i) 1,506,651 shares of Common Stock held by The Bass Trust U/D/T April 29, 1988 (“The
Bass Trust”), (ii) 17,875 shares of Common Stock issuable pursuant to stock options held by Mr. Bass that are exercisable within
60 days of November 5, 2024, (iii) 684,931 shares issuable upon conversion of the convertible subordinated secured promissory note purchased
by The Bass Trust on August 31, 2020, (iv) 746,268 shares issuable upon conversion of the convertible subordinated secured promissory
note purchased by The Bass Trust on May 26, 2023, and (v) 551,760 shares issuable upon conversion of the Note held by The Bass Trust.
The Bass Trust is a family trust, of which Mr. Bass is the trustee. Mr. Bass has voting control and beneficial ownership of the securities
held by The Bass Trust. Mr. Bass has served as Chairman of our Board of Directors since March 1992. |
| (3) | Consists of (i) 32,000 shares of Common Stock held by Mr. Parnell, (ii) 5,750 shares of Common Stock issuable
pursuant to stock options held by Mr. Parnell that are exercisable within 60 days of November 5, 2024, (iii) 74,626 shares issuable upon
conversion of the convertible subordinated secured promissory note purchased by Mr. Parnell on May 26, 2023, and (iv) 105,097 shares issuable
upon conversion of the Note held by Mr. Parnell. Mr. Parnell has served on our Board of Directors since July 2017. |
| (4) | Consists of (i) 56,800 shares of Common Stock held by Mr. Glaenzer, (ii) 8,332 shares of Common Stock
issuable pursuant to stock options held by Mr. Glaenzer that are exercisable within 60 days of November 5, 2024, and (iii) 26,274 shares
issuable upon conversion of the Note held by Mr. Glaenzer. Mr. Glaenzer has served as our Chief Technology Officer since August 2024. |
PLAN OF DISTRIBUTION
The selling stockholders,
which as used herein includes donees, pledgees, transferees or other successors-in-interest selling shares of Common Stock or interests
in shares of Common Stock received after the date of this prospectus from the selling stockholders as a gift, pledge, partnership or other
distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of their shares of Common Stock
or interests in shares of Common Stock on any stock exchange, market or trading facility on which the shares are traded or in private
transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing
market price, at varying prices determined at the time of sale, or at negotiated prices.
The selling stockholders
may use any one or more of the following methods when disposing of shares or interests therein:
| · | transactions on any national securities exchange or U.S. inter-dealer system of a registered national
securities association on which our Common Stock may be listed or quoted at the time of sale; |
| · | privately negotiated transactions and transactions other than on these exchanges or systems; |
| · | sales in the over-the-counter market; |
| · | one or more block transactions, including transactions in which a broker-dealer attempts to sell the shares
as agent, but may also position and resell a portion of the block as principal to facilitate the transaction, or in crosses, in which
the same broker acts as an agent on both sides of the trade; |
| · | ordinary brokerage transactions or transactions in which a broker solicits purchasers; |
| · | purchases by a broker-dealer or market maker, as principal, and resale by the broker-dealer for its account; |
| · | sales by broker-dealers of shares that are loaned or pledged to such broker-dealers; |
| · | “at the market” offerings to or through a market maker or into an existing trading market,
on an exchange or otherwise; |
| · | in accordance with pledges to secure or in payment of debt and other obligations, including pledges to
brokers or dealers who may from time to time effect distributions of our Common Stock and, in the case of any collateral call or default
on such loan or obligation, sales of shares by such pledgees or secured parties; |
| · | in connection with short sales of our Common Stock and delivery of shares to close out short positions; |
| · | through distribution by a selling stockholder or its successor in interest to its members, general or
limited partners or stockholders (or their respective members, general or limited partners or stockholders); |
| · | exchange distributions and/or secondary distributions; |
| · | through the writing of options, whether the options are listed on an options exchange or otherwise; |
| · | in connection with the writing of non-traded or exchange-traded call options, in hedge transactions or
in settlement of other transactions in standardized or over-the-counter options; |
| · | distributions to creditors of the selling stockholder; or |
| · | through a combination of the foregoing or any other available means allowable under applicable law. |
The selling stockholders
and their successors, including their own transferees, pledgees or donees or their successors, may sell the shares directly to purchasers
or through underwriters, broker-dealers or agents, who may receive compensation in the form of discounts, concessions or commissions from
the selling stockholders or the purchasers. Discounts, concessions or commissions as to any particular underwriter, broker-dealer or agent
may be in excess of those customary in the types of transactions involved.
In addition, any securities
covered by this prospectus that qualify for sale pursuant to Rule 144 promulgated under the Securities Act may be
sold under Rule 144 rather than pursuant to this prospectus.
We will pay substantially
all of the expenses incurred by the selling stockholders incident to the registration of the offering and sale of the securities covered
by this prospectus.
DESCRIPTION OF CAPITAL
STOCK
The following descriptions
of our capital stock and certain provisions of our restated certificate of incorporation and bylaws are summaries and are qualified by
reference to these documents, which were filed with the SEC and are referenced in the exhibits to our registration statement, of which
this prospectus forms a part.
Authorized Capital Stock
Our authorized capital
stock consists of 23,000,000 shares, with a par value of $0.001 per share, of which:
| · | 20,000,000 shares are designated as common stock; and |
| · | 3,000,000 shares are designated as preferred stock. |
Common
Stock
Voting Rights
Each
holder of common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, except that, upon
giving notice as required by law, stockholders may cumulate their votes in the election of directors.
Dividends
Subject
to preferences that may be applicable to any then-outstanding convertible preferred stock, holders of our common stock are entitled to
receive dividends, if any, as may be declared from time to time by our board of directors out of legally available funds.
Liquidation
In
the event of our liquidation, dissolution, or winding up, holders of our common stock will be entitled to share ratably in the net assets
legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of
any liquidation preference granted to the holders of any then-outstanding shares of convertible preferred stock.
No Preemptive or
Similar Rights
Our common
stock is not entitled to preemptive rights, and is not subject to conversion, redemption or sinking fund provisions.
Preferred
Stock
Our
board of directors has the authority, without further action by the stockholders, to issue
up to 3,000,000 shares of preferred stock in one or more series and to fix the rights, preferences,
privileges and restrictions thereof. These rights, preferences, and privileges could include dividend rights, conversion rights, voting
rights, redemption rights, liquidation preferences, sinking fund terms, and the number of shares constituting any series or the designation
of such series, any or all of which may be greater than the rights of common stock. The issuance of preferred stock could adversely affect
the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation.
In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing change in our control or other
corporate action.
Anti-Takeover Effects
of Certain Provisions of Delaware Law, Our Restated Certificate of Incorporation and Our Bylaws
Certain provisions of
Delaware law and certain provisions included in our restated certificate of incorporation and bylaws summarized below may be deemed to
have an anti-takeover effect and may delay, deter, or prevent a tender offer or takeover attempt that a stockholder might consider to
be in its best interests, including attempts that might result in a premium being paid over the market price for the shares held by stockholders.
Preferred Stock
Our restated certificate
of incorporation contains provisions that permit our board of directors to issue, without any further vote or action by the stockholders,
shares of preferred stock in one or more series and, with respect to each such series, to fix the number of shares constituting the series
and the designation of the series, the voting rights (if any) of the shares of the series and the powers, preferences, or relative, participation,
optional, and other special rights, if any, and any qualifications, limitations, or restrictions, of the shares of such series.
Removal of Directors
Our bylaws provide that
any director or the entire board of directors may be removed, with or without cause, by the holders of a majority of the shares then entitled
to vote at an election of directors; provided, however, that, if and so long as stockholders are entitled to cumulative voting, if less
than the entire board is to be removed, no director may be removed without cause if the votes cast against his removal would be sufficient
to elect him if then cumulatively voted at an election of the entire board of directors.
Special Meetings
of Stockholders
Our bylaws provide that
a special meeting of stockholders may be called at any time by the board of directors, or by the chairman of the board, or by the president,
or by one or more stockholders holding shares in the aggregate entitled to cast not less than ten percent (10%) of the votes of all shares
of stock owned by stockholders entitled to vote at that meeting.
Advance Notice Procedures
for Director Nominations
Our bylaws provide that
stockholders seeking to nominate candidates for election as directors at an annual or special meeting of stockholders must provide timely
notice thereof in writing. To be timely, a stockholder’s notice generally will have to be delivered to and received by the secretary
of the Company not less than 90 days before the meeting. Although the bylaws do not give the board of directors the power to approve or
disapprove stockholder nominations of candidates to be elected at an annual meeting, the bylaws may have the effect of precluding the
conduct of certain business at a meeting if the proper procedures are not followed or may discourage or deter a potential acquirer from
conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of us.
Action by Written
Consent
Our restated certificate
of incorporation and bylaws provide that any action to be taken by the stockholders must be effected at a duly called annual or special
meeting of stockholders and may not be effected by written consent.
Business Combinations
with Interested Stockholders
We
are subject to Section 203 of the Delaware General Corporation Law, which regulates acquisitions of Delaware corporations. In general,
Section 203 prohibits a publicly-held Delaware corporation from engaging in any business combination with any interested stockholder for
a period of three years following the date the person became an interested stockholder, unless:
| · | prior to the date of the transaction, the board of directors approved either the business combination
or the transaction which resulted in the stockholder becoming an interested stockholder;·
upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned
at least 85% of the voting stock outstanding at the time the transaction commenced excluding for purposes of determining the number of
shares outstanding the shares owned by directors and officers and shares owned by employee stock plans in which employee participants
do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer;
or· on or following the date of the transaction, the business combination is approved
by the board of directors and authorized at an annual or special meeting of stockholders by the affirmative vote of at least 66% of the
outstanding voting stock that is not owned by the interested stockholder. An interested stockholder
is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested stockholder
status, did own 15% or more of a corporation’s outstanding voting securities. We expect the existence of this provision to have
an anti-takeover effect with respect to transactions that our board of directors do not approve in advance. We also anticipate that Section
203 may also discourage attempts that might result in a premium over the market price for the shares of common stock held by stockholders.
A Delaware corporation may opt out of Section 203 with an express provision in its original certificate of incorporation or an express
provision in its certification of incorporation or bylaws resulting from amendments approved by the holders of at least a majority of
the corporation’s outstanding voting shares. We have not opted out of Section 203. |
LEGAL MATTERS
Wilson Sonsini Goodrich &
Rosati, Professional Corporation, Palo Alto, California will pass upon certain legal matters relating to the validity of the securities
offered hereby.
EXPERTS
Sadler, Gibb & Associates,
LLC, independent registered public accounting firm, have audited our financial statements included in our Annual Report on Form 10-K
for the year ended December 31, 2023, as set forth in their report, which is incorporated by reference in this prospectus and registration
statement. Our financial statements are incorporated by reference in reliance on Sadler, Gibb & Associates, LLC’s report and
upon the authority of such firm as experts in accounting and auditing.
WHERE YOU CAN FIND MORE INFORMATION
We have filed with the SEC
a registration statement on Form S-3, of which this prospectus is a part, under the Securities Act with respect to the shares of
Common Stock offered hereby. This prospectus does not contain all of the information included in the registration statement. Statements
in this prospectus concerning the provisions of any document filed as an exhibit to the registration statement or otherwise filed by us
with the SEC are not necessarily complete. You should refer to the copies of those documents for a more complete understanding of the
matters involved. Each statement concerning these documents is qualified in its entirety by such reference.
We file annual, quarterly
and current reports, proxy statements and other information with the SEC. Copies of our reports, proxy statements and other information
are available to the public over the Internet at the SEC’s website at www.sec.gov. You can also find these documents through
our own website which is located at www.socketmobile.com. Information included on our web site is not a part of this prospectus
or any prospectus supplement.
INFORMATION INCORPORATED BY REFERENCE
The SEC allows us to “incorporate
by reference” the information contained in documents that we file with them, which means that we can disclose important information
to you in this document by referring you to other filings we have made with the SEC. The information incorporated by reference is considered
to be part of this prospectus, and later information filed with the SEC will update and supersede this information. This prospectus incorporates
by reference the documents listed below and any future filings we make with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the
Exchange Act (in each case, other than those documents or the portions of those documents furnished pursuant to Items 2.02 or 7.01 of
any Current Report on Form 8-K and, except as may be noted in any such Form 8-K, exhibits filed on such form that are related to such
information), until the offering of the securities under the registration statement of which this prospectus forms a part is terminated
or completed:
| (1) | Our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March
25, 2024 (“Form 10-K”); |
| (2) | Our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, filed with the SEC on May 14,
2024; |
| (3) | Our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, filed with the SEC on August 13,
2024; |
| (4) | Our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November
8, 2024; |
| (5) | The portions of our Definitive Proxy Statement on Schedule 14A that are specifically incorporated by reference
into the Form 10-K, filed with the SEC on March 28, 2024; |
| (6) | Our Current Reports on Form 8-K filed with the SEC on April 4, 2024, May 1, 2024, May 15, 2024, August 14, 2024, August 15, 2024 and August 22, 2024; and |
| (7) | The description of our Common Stock contained in the Registration Statement on Form 8-A relating thereto,
filed with the SEC on June 17, 2016, including any amendment or report filed for the purpose of updating such description. |
For the purposes of this
prospectus, any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be
modified or superseded to the extent that a statement contained herein or in any other subsequently filed document which also is or is
deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall
not be deemed, except as so modified or superseded, to constitute a part of this prospectus.
We will provide to any
person, including any beneficial owner, to whom a prospectus is delivered, a copy of any of the information that has been incorporated
by reference into this prospectus at no cost upon an oral or written request to:
Socket Mobile, Inc.
40675 Encyclopedia Cir
Fremont, CA 94538
Attention: Lynn Zhao
Phone: (510) 933-3016
1,050,970 Shares
SOCKET MOBILE, INC.
COMMON STOCK
PROSPECTUS
No dealer, salesperson or
other person is authorized to give any information or to represent anything not contained in this prospectus. You must not rely on any
unauthorized information or representations. This prospectus is an offer to sell only the shares offered hereby, and only under circumstances
and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current only as of its date.
November ,
2024
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and
Distribution
The Registrant will bear
no expenses in connection with any sale or other distribution by the selling stockholders of the shares being registered, other than the
expenses of preparation and distribution of this Registration Statement and the Prospectus included in this Registration Statement. Such
expenses are set forth in the following table. All of the amounts shown are estimates, except the SEC registration fee.
| | |
Amount To Be Paid |
| SEC registration fee | |
$ | 186.65 | |
| Legal fees and expenses | |
| 12,500.00 | |
| Accounting fees and expenses | |
| 3,000.00 | |
| Total | |
$ | 15,686.65 | |
Item 15. Indemnification of Directors and Officers
Section 145 of the
Delaware General Corporation Law (the “DGCL”) authorizes a court to award, or a corporation’s board of directors
to grant, indemnity to directors and officers in terms sufficiently broad to permit such indemnification under certain circumstances for
liabilities (including reimbursement for expenses incurred) arising under the Securities Act. As permitted by Section 102 of the DGCL,
the registrant’s certificate of incorporation and the registrant’s bylaws provide for indemnification of and advancement of
expenses to the registrant’s directors and officers and authorize indemnification of employees and other agents to the maximum extent
permitted by the DGCL. In addition, the registrant has entered into indemnification agreements with its officers and directors and certain
stockholders.
Pursuant to Section 145(a)
of the DGCL, the registrant may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding (other than an action by or in the right of the corporation) by reason of the fact that the person
is or was a director, officer, agent or employee of the registrant’s company or is or was serving at the registrant’s request
as a director, officer, agent, or employee of another corporation, partnership, joint venture, trust or other enterprise, against expenses,
including attorneys’ fees, judgment, fines and amounts paid in settlement actually and reasonably incurred by the person in connection
with such action, suit or proceeding. Pursuant to Section 145(b) of the DGCL, the power to indemnify also applies to actions brought by
or in the right of the corporation as well, but only to the extent of defense expenses (including attorneys’ fees) actually and
reasonably incurred by the person in connection with the defense or settlement of such action or suit. Pursuant to Section 145(b), the
registrant shall not indemnify any person in respect of any claim, issue or matter as to which such person shall have been adjudged to
be liable to the registrant unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person
is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper. The
power to indemnify under Sections 145(a) and (b) of the DGCL applies (i) if such person is successful on the merits or otherwise in defense
of any action, suit or proceeding, or (ii) if such person acted in good faith and in a manner he reasonably believed to be in the best
interest, or not opposed to the best interest, of the corporation, and with respect to any criminal action or proceeding, had no reasonable
cause to believe his conduct was unlawful.
Section 174 of the DGCL
provides, among other things, that a director, who willfully or negligently approves of an unlawful payment of dividends or an unlawful
stock purchase or redemption, may be held liable for such actions. A director who was either absent when the unlawful actions were approved
or dissented at the time, may avoid liability by causing his or her dissent to such actions to be entered in the books containing the
minutes of the meetings of the board of directors at the time such action occurred or immediately after such absent director receives
notice of the unlawful acts.
The indemnification provisions
contained in the registrant’s certificate of incorporation and bylaws are not exclusive of any other rights to which a person may
be entitled by law, agreement, vote of stockholders or disinterested directors or otherwise. In addition, the registrant will maintain
insurance on behalf of the registrant’s directors and executive officers insuring them against any liability asserted against them
in their capacities as directors or officers or arising out of such status.
Item 16. Exhibits
| |
|
Incorporation
by Reference |
|
|
Exhibit
Number |
Exhibit
Description |
Form |
Exhibit
Number |
Filing Date |
Filed Herewith |
| 3.1 |
Restated Certificate of Incorporation, as amended October 23, 2008 |
10-K |
3.1 |
March 16, 2009 |
|
| 3.2 |
Certificate of Amendment to Restated Certificate, as filed June 20, 2013 |
S-3 |
3.2 |
April 12, 2021 |
|
| 3.3 |
Bylaws, as amended February 17, 2008 |
10-K |
3.4 |
March 7, 2008 |
|
| 5.1 |
Opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation |
|
|
|
X |
| 10.1 |
Form of Secured Subordinated Convertible Note issued on August 21, 2024 |
8-K |
10.1 |
August 22, 2024 |
|
| 23.1 |
Consent of Sadler, Gibb & Associates LLP, Independent Registered Public Accounting Firm |
|
|
|
X |
| 23.2 |
Consent of Wilson Sonsini Goodrich & Rosati, Professional Corporation (included in the opinion filed as Exhibit 5.1 to this Registration Statement) |
|
|
|
X |
| 24.1 |
Power of Attorney (included on the signature page to this Registration Statement) |
|
|
|
X |
| 107 |
Filing Fee Table |
|
|
|
X |
| |
|
|
|
|
|
|
Item 17. Undertakings
(a)
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To
include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) To reflect
in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration
Statement;
(iii) To include
any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material
change to such information in the Registration Statement;
provided, however,
that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) above do not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section
15(d) of the Securities Exchange Act that are incorporated by reference in the Registration Statement, or is contained in a form of prospectus
filed pursuant to Rule 424(b) that is part of the Registration Statement.
(2)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold
at the termination of the offering.
(4)
That, for the purpose of determining liability under the Securities Act to any purchaser:
(i) each prospectus filed
by the Registrant pursuant to Rule 424(b)(3) shall be deemed to be part of in the Registration Statement as of the date the filed prospectus
was deemed part of and included in the registration statement; and
(ii) each prospectus required
to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an
offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) (§ 230.415(a)(1)(i), (vii), or (x) of this chapter) for the purpose of
providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration
statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of
sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any
person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating
to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus
that is part of the Registration Statement or made in a document incorporated or deemed incorporated by reference into the Registration
Statement or prospectus that is part of the Registration Statement will, as to a purchaser with a time of contract of sale prior to such
effective date, supersede or modify any statement that was made in the Registration Statement or prospectus that was part of the Registration
Statement or made in any such document immediately prior to such effective date.
(b)
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each
filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act that is incorporated
by reference in the registration statement shall be deemed to be a new Registration Statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements
of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Fremont, State of California, on the 12th day of November, 2024.
SOCKET MOBILE, INC.
By: /s/
Lynn Zhao
Lynn Zhao
Chief Financial Officer and
Vice President of Finance and Administration
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE
PRESENTS, that each person whose signature appears below hereby constitutes and appoints, jointly and severally, Kevin J. Mills and Lynn
Zhao, and each one of them, individually and without any other, his attorney-in-fact, each with full power of substitution, for him in
any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to sign
any registration statement for the same offering covered by this Registration Statement that is to be effective upon filing pursuant to
Rule 462(b) promulgated under the Securities Act, and all post-effective amendments thereto, and to file the same, with exhibits
thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all
that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of
the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated
below:
| Signature | |
Title | |
| Date | |
/s/
Kevin J. Mills
Kevin J. Mills | |
President and Chief Executive Officer (Principal
Executive Officer), and Director | |
| November 12, 2024 | |
| |
| |
| | |
/s/
Charlie Bass
Charlie Bass | |
Chairman of the Board of Directors | |
| November 12, 2024 | |
| |
| |
| | |
/s/
Lynn Zhao
Lynn Zhao | |
Chief Financial Officer and Vice President of Finance
and Administration (Principal Financial and Accounting Officer), and Director | |
| November 12, 2024 | |
| |
| |
| | |
/s/
William L. Parnell, Jr.
William L. Parnell, Jr. | |
Director | |
| November 12, 2024 | |
| |
| |
| | |
/s/
Ivan Lazarev
Ivan Lazarev | |
Director | |
| November 12, 2024 | |
| |
| |
| | |
/s/
Alexis Hartmann
Alexis Hartmann | |
Director | |
| November 12, 2024 | |
0000
Exhibit 5.1
WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304
(650) 493-9300
November 12, 2024
Socket Mobile, Inc.
40675 Encyclopedia Cir.
Fremont, CA 94538
Re: Registration
Statement on Form S-3
Ladies and Gentlemen:
We have acted as counsel
to Socket Mobile, Inc., a Delaware corporation (the “Company”), in connection with the preparation of a Registration
Statement on Form S-3 (the “Registration Statement”) to be filed on or about the date hereof by the Company with the
Securities and Exchange Commission (the “Commission”), for the registration under the Securities Act of 1933, as amended
(the “Securities Act”), of the resale of an aggregate of 1,050,970 shares of the Company’s Common Stock (the
“Shares”) that are issuable upon the conversion of Secured Subordinated Convertible Notes issued August 21, 2024 (the
“Notes”).
We have examined instruments,
documents, certificates and records that we have deemed relevant and necessary for the basis of our opinions hereinafter expressed. In
such examination, we have assumed: (a) the authenticity of original documents and the genuineness of all signatures; (b) the conformity
to the originals of all documents submitted to us as copies; (c) the truth, accuracy and completeness of the information, representations
and warranties contained in the instruments, documents, certificates and records we have reviewed; and (d) the legal capacity of all natural
persons. As to any facts material to the opinions expressed herein that were not independently established or verified, we have relied
upon oral or written statements and representations of officers and other representatives of the Company.
Based upon the foregoing,
and subject to the qualifications set forth below, we are of the opinion that the Shares issuable upon conversion of the Notes have been
duly authorized by the Company and, when issued and delivered by the Company upon conversion thereof in accordance with the terms of the
Notes, will be validly issued, fully paid and non-assessable.
We express no opinion as
to the laws of any other jurisdiction, other than the Federal laws of the United States of America and the General Corporation Law of
the State of Delaware.
We consent to the use of
this opinion as an exhibit to the Registration Statement, and we consent to the reference of our name under the caption “Legal Matters”
in the prospectus forming part of the Registration Statement. In giving this consent, we do not admit that we are in the category of persons
whose consent is required under Section 7 of the Securities Act.
This opinion is furnished
to you in connection with the filing of the Registration Statement, and is not to be used, circulated, quoted or otherwise relied upon
for any other purpose.
Very truly yours,
WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
/s/ Wilson Sonsini Goodrich & Rosati
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
As independent registered public accountants, we hereby
consent to the incorporation by reference in this Registration Statement on Form S-3 and related Prospectus, for the registration of 1,050,970
shares of common stock, of our report dated March 25, 2024, with respect to the financial statements of Socket Mobile, Inc. for the years
ended December 31, 2023 and 2022, included in its Form 10-K filed with the Securities and Exchange Commission. We also consent to the
reference of our firm under the caption “Experts” in the Registration Statement.
/s/ Sadler, Gibb & Associates,
LLC
Draper, UT
November 12, 2024
Exhibit 107
CALCULATION OF FILING FEE TABLE
Form S-3
(Form Type)
Socket Mobile, Inc.
(Exact Name of Registrant as Specified
in its Charter)
Table 1: Newly Registered Securities
| Security Type |
Security Class Title |
Fee Calculation Rule |
Amount Registered |
Proposed Maximum Offering Price Per Unit |
Maximum Aggregate Offering Price |
Fee Rate |
Amount of Registration Fee |
| Equity |
Common Stock, par value $0.001 per share |
Other(1) |
1,050,970 (2) |
$1.16(1) |
$1,219,125.20 |
0.0001531 |
$186.65 |
| Total Offering Amounts |
|
$1,219,125.20 |
|
$186.65 |
| Total Fee Offsets |
|
|
|
— |
| Net Fee Due |
|
|
|
$186.65 |
| (1) | Estimated in accordance
with Rules 457(c) and 457(h) solely for the purpose of calculating the registration fee on
the basis of $1.16 per share, which represents the average of the high and low prices of
the Registrant’s common stock as reported on the Nasdaq Capital Market on November
7, 2024. |
| (2) | Represents shares offered by the selling stockholders consisting of shares of the Registrant’s
common stock issuable upon the conversion of outstanding secured subordinated notes. Includes an indeterminable number of additional shares
of common stock, pursuant to Rule 416 under the Securities Act of 1933, as amended, that may be issued to prevent dilution from stock
splits, stock dividends or similar transactions that could affect the shares to be offered by the selling stockholders. |
Grafico Azioni Socket Mobile (NASDAQ:SCKT)
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Da Ott 2024 a Nov 2024
Grafico Azioni Socket Mobile (NASDAQ:SCKT)
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Da Nov 2023 a Nov 2024
