Sonid Inc. announced a private placement to issue Series 28 interest-bearing, unsecured privately placed convertible bonds for the gross proceeds of KRW 4,000,000,000 on November 15, 2023. The bonds will bear interest rate of 5% per annum, Maturity interest rate of 5% and will mature on November 15, 2026. The bonds are convertible into 1,600,000 shares at an fixed conversion price of KRW 2,500 per share.

The Conversion claim period starts from November 15, 2024 to October 15, 2026. The transaction is expected to close on November 15, 2023. the transaction has been approved by the board of the company.

The transaction will include participation from Jeonghee Kim.