Owlet raises $9.25M via Series B Convertible Preferred and warrants

Owlet, Inc.

Sold 9,250 Series B Convertible Preferred shares and warrants for 1,799,021 Class A common shares, aggregate $9.25M.
Closing on Feb 29, 2024, per Investment Agreement dated Feb 25, 2024.
Certificate of Designation filed with Delaware sets conversion, liquidation, and voting terms for Series B Preferred.
Private placement modifies existing security holders' rights due to new series preferences.

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.: Filing of Certificate of Designation for Series B Convertible Preferred Stock establishing terms, rights, obligations and preferences (effective 2024-02-29).

Change: charter amendment
Effective: 2024-02-29

Exact text from the filing

In connection with the completion of the Private Placement, on the Closing Date, the Company filed the Certificate of Designation of Series B Convertible Preferred Stock (the “Certificate of Designation”) of the Company, a copy of which is filed as Exhibit 3.1 hereto and is incorporated herein by reference, with the Secretary of State of the State of Delaware to establish the terms, rights, obligations and preferences of the Series B Preferred Stock. The Certificate of Designation became effective upon the filing with the Secretary of State of the State of Delaware on the Closing Date.

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Owlet, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-008342

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