Sonid Inc. announced a private placement to issue 1,200,000 common shares at an issue price of KRW 2,500 per share for the gross proceeds of KRW 3,000,000,000 on March 15, 2024. The transaction will include participation from returning individual investor Jun-il Park for 1,200,000 shares. The transaction has been approved by the shareholders of the company and is expected to close on April 30, 2024.

The securities are restricted to a hold period.