HYSONIC Co., Ltd. announced that it will issue 714,286 common shares at a price of KRW 2,800 per share for gross proceeds of KRW 2,000,000,800 on February 23, 2023. The transaction will include participation from Innowave Inc. for all shares issued. The company will receive funding through third party allocation increase.

The transaction has been approved by board of directors of the company and is expected to close on March 3, 2023. The shares issued will be subject to restriction period of one year from issuance.