Owlet raises $30M via Series A convertible preferred and warrants; appoints new director

Owlet, Inc.

$30M gross proceeds from private placement of Series A convertible preferred stock and warrants.
Preferred shares convertible into ~61.2M common shares; warrants for 110.2M shares at $0.333.
Eclipse Ventures affiliates purchased $20.2M; other existing investors including CEO Workman participated.
Board expanded to seven; Eclipse designee Jayson Knafel appointed as Class II director.
Proceeds for general corporate purposes and strategic initiatives; Cowen acted as placement agent.

item 1.01 item 3.02 item 3.03 item 5.02 item 5.03 item 7.01 item 9.01

Executive movements

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Appointed

Jayson Knafel

Director

OWLT · Owlet, Inc.

Filed: February 21, 2023, 6:59 PM ET

The Company appointed Jayson Knafel, an Eclipse designee, to serve as a member of the Board as a Class II Director, for a term expiring at the Company’s annual meeting of stockholders to be held in 2023 and until his respective successor has been elected and qualified or until his earlier death, resignation or removal, effective following the execution of the Stockholders Agreement.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jayson Knafel was appointed as Director at Owlet, Inc..

Action: appointed
Role: Director

Exact text from the filing

The Company appointed Jayson Knafel, an Eclipse designee, to serve as a member of the Board as a Class II Director, for a term expiring at the Company’s annual meeting of stockholders to be held in 2023 and until his respective successor has been elected and qualified or until his earlier death, resignation or removal, effective following the execution of the Stockholders Agreement.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Owlet, Inc.: Filed Certificate of Designation for Series A Preferred Stock (effective 2023-02-21).

Change: charter amendment
Effective: 2023-02-21

Exact text from the filing

the Company filed the Certificate of Designation with the Secretary of State of the State of Delaware on the Closing Date setting forth the terms, rights, obligations and preferences of the Series A Preferred Stock

View on SEC.gov

Browse all governance changes →

Owlet, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-004142

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