Sonid Inc. announced a private placement of 2,854,967 common shares at an issue price of KRW 5,254 per share for gross proceeds of KRW 14,999,996,618 on April 5, 2023. The transaction will include participation from existing investor JY Mirae Technology Co., Ltd. The transaction is by way of third party capital increase. The payment date for the shares is May 31, 2023.

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