IV Global Fund No. 4 - Jan 3, 2024 Form 3 Insider Report for DZS INC. (DZSI)

Role: 10%+ Owner
Signature: /s/ IV Global Fund No. 4, By: Woong Gee Choi, Title: CEO of general partner
Stock symbol: DZSI
Transactions as of: Jan 3, 2024
Transactions value $: $0
Form type: 3
Date filed: 1/16/2024, 02:02 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	DZSI	Common Stock						5.43M	Jan 3, 2024	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This Form 3 is filed jointly by IV Global Fund No. 4, a Korean limited partnership ("IV Global"), Invites Ventures Co., Ltd., a Korean corporation and the general partner of IV Global ("Invites Ventures"), and Woong Gee Choi, the Chief Executive Officer of Invites Ventures ("Choi," and collectively with IV Global and Invites Ventures, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
F2	Represents securities of DZS Inc., a Delaware corporation (the "Issuer"), directly owned by IV Global, whose general partner is Invites Ventures. Invites Ventures, as general partner of IV Global, and Choi, in his capacity as the Chief Executive Officer of Invites Ventures, have the shared power to vote and to dispose of the shares of common stock, par value $0.001 per share ("Common Stock"), of the Issuer directly owned by IV Global. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of the Reporting Persons may be deemed to beneficially own the shares of Common Stock of the Issuer directly owned by IV Global.

Content

This Form 3 is filed jointly by IV Global Fund No. 4, a Korean limited partnership ("IV Global"), Invites Ventures Co., Ltd., a Korean corporation and the general partner of IV Global ("Invites Ventures"), and Woong Gee Choi, the Chief Executive Officer of Invites Ventures ("Choi," and collectively with IV Global and Invites Ventures, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

Represents securities of DZS Inc., a Delaware corporation (the "Issuer"), directly owned by IV Global, whose general partner is Invites Ventures. Invites Ventures, as general partner of IV Global, and Choi, in his capacity as the Chief Executive Officer of Invites Ventures, have the shared power to vote and to dispose of the shares of common stock, par value $0.001 per share ("Common Stock"), of the Issuer directly owned by IV Global. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of the Reporting Persons may be deemed to beneficially own the shares of Common Stock of the Issuer directly owned by IV Global.