On October 27, 2026, Socket Mobile, Inc. (NASDAQ: SCKT) announced its intention to voluntarily withdraw its common stock from The Nasdaq Capital Market and transition the quotation of its shares to the OTCID Market operated by OTC Markets Group Inc.
The decision follows a notification from Nasdaq on August 24, 2026, indicating that the company no longer satisfied the minimum stockholders’ equity requirement of $2.5 million under Nasdaq Listing Rule 5550(b)(1). After evaluating strategic alternatives, market capitalization, and the substantial costs associated with maintaining a Nasdaq listing, the Board of Directors authorized the transition.
The company expects its common stock to continue trading under the ticker symbol "SCKT" on the OTCID Market. The Board determined that moving to the OTC market will significantly reduce administrative and regulatory overhead, conserve cash, and redirect resources toward core product development and customer execution.
In accordance with Nasdaq Listing Rule 5840(j) and Exchange Act Rule 12d2-2(c), the company anticipates the following timeline:
- Notice: Written notice was delivered to Nasdaq on October 27, 2026.
- Form 25 Filing: The company intends to file a Form 25 with the SEC on or about November 9, 2026.
- Delisting Effective Date: Delisting from Nasdaq is expected to become effective on or about November 19, 2026.
- OTC Quotation: Quotation on the OTCID Market under the symbol SCKT is expected to commence at the market open on or about November 19, 2026.
Regular trading on Nasdaq is expected to cease at the close of regular market hours on November 18, 2026. The company stated that the transition will not affect day-to-day business operations, customer commitments, or product delivery schedules. Socket Mobile intends to continue filing periodic reports, including Forms 10-K, 10-Q, and 8-K, with the SEC.
