Socket Mobile, Inc. announced on October 27, 2026, that its Board of Directors has approved a voluntary withdrawal of the company's common stock listing from The Nasdaq Capital Market, with shares expected to begin trading on the OTCID Market operated by OTC Markets Group Inc. on or about November 19, 2026.

Key Highlights

  • Voluntary delisting approved: Socket Mobile's Board of Directors approved a plan to withdraw the company's common stock from The Nasdaq Capital Market.
  • OTCID Market transition: The company expects to begin quotation on the OTCID Market under the ticker symbol SCKT on or about November 19, 2026.
  • Compliance shortfall: The company is currently below the Nasdaq continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which mandates a minimum of $2.5 million in stockholders' equity.
  • Nasdaq trading halt: Regular trading on Nasdaq is expected to cease at the close of regular market hours on November 18, 2026.
  • Written notice delivered: The company has delivered written notice to Nasdaq of its intention to voluntarily delist, in accordance with Nasdaq Listing Rule 5840(j) and Rule 12d2-2(c) under the Securities Exchange Act of 1934.
  • OTC onboarding confirmed: OTC Markets Group Inc. has provided written confirmation that Socket Mobile has satisfied the onboarding qualifications for the OTCID Market.

Socket Mobile's Decision to Leave Nasdaq and What Comes Next

Socket Mobile, a Fremont, California-based provider of data capture and delivery solutions whose revenue is primarily driven by the deployment of third-party barcode-enabled mobile applications integrating its cordless barcode scanners and contactless readers/writers, disclosed the delisting plan in a press release issued October 27, 2026. According to the filing, the Board conducted "an extensive evaluation of the Company's strategic alternatives, market capitalization, and operational costs" before reaching its conclusion. The Board determined that "the substantial legal, accounting, compliance, and listing fees associated with maintaining a Nasdaq listing are no longer an optimal use of corporate capital relative to the benefits provided."

The company also disclosed that it is currently below the Nasdaq continued listing standard under Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders' equity, and had previously submitted a compliance plan to Nasdaq Listing Qualifications. According to the filing, after assessing market conditions and ongoing compliance costs, the Board concluded that transitioning to the OTCID Market "serves the best interests of the Company and its stockholders." The company stated it expects to redirect capital toward "core product development, operational execution, and long-term business objectives."

On the procedural side, the company intends to file the notification with the SEC on or about November 9, 2026. Delisting from The Nasdaq Capital Market is expected to become effective approximately ten calendar days after that filing, on or about November 19, 2026, when OTCID Market quotation under the symbol SCKT is also expected to commence. The company stated the transition "will not affect the Company's business operations, customer commitments, or product delivery schedules," and that it intends to continue filing periodic reports with the SEC under applicable Exchange Act rules. Socket Mobile's common stock trades on NASDAQ:SCKT.

What Was Disclosed

Socket Mobile disclosed its Board-approved plan to voluntarily withdraw from The Nasdaq Capital Market and transition to the OTCID Market, citing compliance costs and a failure to meet the $2.5 million stockholders' equity requirement, with delisting expected around November 19, 2026.