---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-22-031105"
form_type: "8-K"
ticker: "OWLT"
cik: "0001816708"
company_name: "Owlet, Inc."
filed_at: "2022-11-30T23:59:59+00:00"
generated_at: "2026-06-21T11:46:50.924631+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Owlet enters $17.5M credit facility with SVB; $8.5M term loan to refinance prior debt

## Summary
- $17.5M revolving line of credit, up to $10M available initially; matures April 22, 2024.
- $8.5M term loan to repay existing growth capital loans; amortizes $500k/month; matures April 1, 2024.
- Interest on revolving line: greater of 5.00% or prime rate; term loan: greater of 5.75% or prime rate.
- Liquidity covenant: maintain >$15M through Dec 2022, then >$25M after Jan 2023; quarterly minimum net revenue tests.
- Secured by substantially all assets; fees include $50k commitment fee, $450k final payment, prepayment penalties.

## SEC filing metadata
- accession: 0001628280-22-031105
- form_type: 8-K
- ticker: OWLT
- cik: 0001816708
- company_name: Owlet, Inc.
- filed_at: 2022-11-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1816708/000162828022031105/0001628280-22-031105-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1816708/000162828022031105/owlt-20221130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-22-031105
- JSON: https://secwatch.observer/filing/0001628280-22-031105.json
- Plain text: https://secwatch.observer/filing/0001628280-22-031105.txt

## Key facts
- Material Agreements
  Owlet, Inc. amended Third Amended and Restated Loan and Security Agreement with Silicon Valley Bank valued at $17.5 million revolving line of credit (effective 2022-11-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Silicon Valley Bank
  - Value: $17.5 million revolving line of credit
  - Effective: 2022-11-23
  source text: On November 23, 2022 (the “Closing Date”), Owlet, Inc., a Delaware corporation (the “Company”) and Owlet Baby Care, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company (“OBCI” and together with the Company, “Borrower”), entered into the Third Amended and Restated Loan and Security Agreement (the “LSA”) with Silicon Valley Bank, a California corporation (“Bank”), as the lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1816708/000162828022031105/0001628280-22-031105-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.