Sonid Inc. (KOSDAQ:A060230) entered into a share and management right transfer agreement to acquire 5.81% stake in MEDICOX Co., Ltd. (KOSDAQ:A054180) from Connec Co. Ltd. for KRW 11.2 billion on August 22, 2022. As per the terms, KRW 3 billion paid today, and balance of KRW 8.2 billion will be paid on September 30, 2022. Transaction is expected to be completed on August 31, 2022.

Sonid Inc. (KOSDAQ:A060230) completed the acquisition of 5.81% stake in MEDICOX Co., Ltd. (KOSDAQ:A054180) from Connec Co. Ltd. on August 31, 2022.