Owlet announces 1-for-14 reverse stock split effective July 7; shares to trade on split-adjusted basis July 10

Owlet, Inc.

Reverse split reduces outstanding Class A common stock from ~118M to ~8.4M shares.
Authorized Common Stock reduced from 1B to ~107M shares; preferred authorized cut from ~100M to ~10.7M.
Move intended to help regain NYSE $1.00 minimum average closing price compliance.
No fractional shares; cash paid in lieu; CUSIP changes to 69120X206.
NYSE previously halted and delisted Owlet's warrants due to low trading price.

Key facts

Extracted from this filing and checked against the source text.

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

Owlet, Inc.: Filed a Certificate of Amendment to effect a one-for-14 reverse stock split and reduce authorized shares of common and preferred stock (effective 2023-07-07).

Change: charter amendment
Effective: 2023-07-07

Exact text from the filing

On July 7, 2023, Owlet, Inc. (the “ Company ”) filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation (the “ Charter Amendment ”) to effect a one-for-14 reverse stock split (the “ Reverse Stock Split ”) of the Company’s Class A common stock (the “ Common Stock ”) and a reduction in the number of authorized shares of Common Stock and authorized but unissued shares of the Company’s preferred stock.

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Owlet, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-024574

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