secwatch.observer — SEC 8-K summary
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Issuer:     Owlet, Inc. (OWLT)
CIK:        0001816708
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001628280-23-004142
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 3.03, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1816708/000162828023004142/0001628280-23-004142-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1816708/000162828023004142/owlt-20230217.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-004142

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer