Owlet secures $25M Wells Fargo credit facility, cuts borrowing cost by at least 525 bps

Owlet, Inc.

New $25M asset-based revolving credit facility with Wells Fargo, maturing June 2029.
Interest rate margin reduced to SOFR+2.00-2.25% from prior SOFR+7.50-8.50%.
Total liquidity of ~$33.8M as of June 26, 2026, including cash and undrawn capacity.
Facility can be increased to $35M subject to lender approval; refinances existing ABL and term loans.
Covenants include minimum $7.5M liquidity and specified EBITDA thresholds.

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