Sonid Inc. announced a private placement of series 24 non-guaranteed private convertible bonds with bearer Type interest Part for a gross proceeds of KRW 1,000,000,000 on June 27, 2022. The transaction will include participation from Airtech Invest Co., Ltd. The bonds have a coupon rate of 1% and yield to maturity of 1%. The bonds will mature on July 5, 2025.

The bonds will be 100% converted into 212,585 common shares at a fixed conversion price of KRW 4,704 per share for an equity stake of 1.07%. The conversion period is from July 5, 2023 to June 5, 2025. The payment date of the transaction is July 5, 2022.

The transaction has been approved by the board of directors of the company.