--- schema_version: "secwatch.filing_event.v1" accession: "0001628280-24-006737" form_type: "8-K" ticker: "OWLT" cik: "0001816708" company_name: "Owlet, Inc." filed_at: "2024-02-26T23:59:59+00:00" generated_at: "2026-06-05T15:36:28.767927+00:00" event_type: "other_material" sentiment: "positive" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Owlet raises $9M in private placement of Series B preferred and warrants; Q4 preliminary results strong ## Summary - Gross proceeds $9M from sale of Series B convertible preferred and warrants; expected close Feb 28. - Conversion and exercise price reflect 25% premium to Feb 23 close; warrants at $7.7125, 5-year term. - Cash and equivalents over $16M at year-end; capital to fund commercialization of new FDA-cleared devices. - Existing investors Eclipse, Trilogy, and board member John Kim participated; resale S-1 to be filed. - Preliminary Q4 2023 results cited as strong but no revenue or EPS figures disclosed. ## SEC filing metadata - accession: 0001628280-24-006737 - form_type: 8-K - ticker: OWLT - cik: 0001816708 - company_name: Owlet, Inc. - filed_at: 2024-02-26T23:59:59+00:00 - event_type: other_material - sentiment: positive - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 1.01, 2.02, 9.01, 3.02, 3.03, 5.03, 5.07, 7.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1816708/000162828024006737/0001628280-24-006737-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1816708/000162828024006737/owlt-20240225.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001628280-24-006737 - JSON: https://secwatch.observer/filing/0001628280-24-006737.json - Plain text: https://secwatch.observer/filing/0001628280-24-006737.txt ## Key facts - Earnings Releases Owlet, Inc. reported preliminary financial results for the fourth quarter ended December 31, 2023. - Period: the fourth quarter ended December 31, 2023 - Result: preliminary results source text: On February 26, 2024, the Company issued a press release reporting certain unaudited preliminary financial results for the fourth quarter ended December 31, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1816708/000162828024006737/0001628280-24-006737-index.htm - Governance Changes Owlet, Inc.: Filed Certificate of Designation for Series B Preferred Stock. - Change: charter amendment source text: In connection with the closing of the Private Placement, the Company will file 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 B Preferred Stock. evidence_url: https://www.sec.gov/Archives/edgar/data/1816708/000162828024006737/0001628280-24-006737-index.htm - Material Agreements Owlet, Inc. entered into Investment Agreement with certain investors listed on Schedule 1 thereto (the "Investors") valued at $9.25 million (effective 2024-02-25). - Action: entry - Agreement: equity purchase - Counterparty: certain investors listed on Schedule 1 thereto (the "Investors") - Value: $9.25 million - Effective: 2024-02-25 source text: On February 25, 2024, Owlet, Inc. (the “Company”) entered into an Investment Agreement (the “Investment Agreement”) with certain investors listed on Schedule 1 thereto (the “Investors”), pursuant to which the Company will issue and sell to the Investors (i) an aggregate of 9,250 shares (the “Preferred Shares”) of the Company’s Series B Convertible Preferred Stock, par value $0.0001 per share (the “Series B Preferred Stock”) and (ii) warrants (“Warrants”) to purchase an aggregate of 1,799,021 shares of the Company’s Class A Common Stock, par value $0.0001 per share (the “Common Stock”), for an aggregate purchase price of $9.25 million evidence_url: https://www.sec.gov/Archives/edgar/data/1816708/000162828024006737/0001628280-24-006737-index.htm - Shareholder Votes Owlet, Inc. shareholders approved Creation and authorization of Series B Preferred Stock and issuance of Preferred Shares in Private Placement at the 2024-02-25 meeting. - Outcome: passed - Meeting: 2024-02-25 source text: On February 25, 2024, holders of 22,917 shares of the Series A Preferred Stock, representing a majority of the outstanding shares of Series A Preferred Stock, approved the creation and authorization of the Series B Preferred Stock and the issuance of the Preferred Shares in the Private Placement, as required by the terms of the Company’s Certificate of Designation of Series A Convertible Preferred Stock. evidence_url: https://www.sec.gov/Archives/edgar/data/1816708/000162828024006737/0001628280-24-006737-index.htm - Shareholder Votes Owlet, Inc. shareholders approved Approval that Preferred Shares will be permitted indebtedness under Series A Certificate of Designation at the 2024-02-25 meeting. - Outcome: passed - Meeting: 2024-02-25 source text: Such holders also approved that the Preferred Shares will be permitted indebtedness under the terms of the Company’s Certificate of Designation of Series A Convertible Preferred Stock. evidence_url: https://www.sec.gov/Archives/edgar/data/1816708/000162828024006737/0001628280-24-006737-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.