Owlet Announces Proposed Public Offering
12 September 2024 - 7:22AM
Business Wire
Owlet, Inc. (“Owlet” or the “Company”) (NYSE:OWLT), the pioneer
of smart infant monitoring, today announced it intends to offer and
sell its Class A common stock in an underwritten public offering.
In addition, the Company intends to grant the underwriter a 30-day
option to purchase up to an additional 15% of the gross proceeds of
its Class A common stock at the public offering price per share,
before underwriting discounts and commissions. All of the shares in
the proposed offering are to be sold by the Company.
Owlet intends to use the net proceeds from the proposed public
offering for general corporate purposes, capital expenditures,
working capital and general and administrative expenses.
Titan Partners Group, a division of American Capital Partners,
is acting as the sole bookrunner for the offering.
The proposed public offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The securities described above are being offered by Owlet
pursuant to an effective shelf registration statement on Form S-3
that was previously filed with the U.S. Securities and Exchange
Commission, or the SEC. The offering will be made only by means of
a written prospectus and a prospectus supplement that form a part
of the registration statement. A preliminary prospectus supplement
and accompanying prospectus relating to and describing the terms of
the offering will be filed with the SEC and will be available on
the SEC’s website. When available, copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
these securities may also be obtained by request from: Titan
Partners Group LLC, a division of American Capital Partners, LLC, 4
World Trade Center, 29th Floor, New York, NY 10007, by phone at
(929) 833-1246 or by email at prospectus@titanpartnersgrp.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Owlet, Inc.
Owlet’s digital health infant monitoring platform is
transforming the journey of parenting. Owlet, Inc. (NYSE:OWLT), a
small-cap healthcare growth equity, offers FDA-authorized medical
and consumer pediatric wearables and an integrated HD visual and
audio camera that provide real-time data and insights to parents
who safeguard health, optimize wellness, and ensure peaceful sleep,
for their children.
Since 2012, over 2 million parents worldwide have used Owlet’s
platform contributing to one of the largest collections of consumer
infant health and sleep data. The Company continues to develop
software and digital data solutions to bridge the current
healthcare gap between hospital and home and bring new insights to
parents and caregivers globally. Owlet believes that every child
deserves to live a long, happy, and healthy life. To learn more,
visit www.owletcare.com.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. All
statements other than statements of historical facts contained
herein including, without limitation, statements regarding the
completion, timing and size of the proposed public offering and the
grant to the underwriter of an option to purchase additional shares
are forward-looking statements reflecting the current beliefs and
expectations of Owlet’s management made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements represent Owlet’s current expectations
regarding future events and are subject to known and unknown risks
and uncertainties that could cause actual results to differ
materially from those implied by the forward-looking statements.
Among those risks and uncertainties are market conditions,
including market interest rates, the trading price and volatility
of Owlet’s Class A common stock, the satisfaction of closing
conditions related to the proposed public offering, and risks
relating to Owlet’s business, including those risks described in
periodic reports that Owlet files from time to time with the SEC,
as well as the preliminary prospectus supplement and accompanying
prospectus relating to the proposed public offering. The
forward-looking statements included in this press release speak
only as of the date of this press release, and Owlet does not
undertake to update the statements included in this press release
for subsequent developments, except as may be required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240911270241/en/
Investor Relations: Jay Gentzkow
jgentzkow@owletcare.com
Media: pr@owletcare.com
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