Owlet announces proposed public offering of Class A common stock

Owlet, Inc. (NYSE: OWLT) announced a proposed underwritten public offering of its Class A common stock. The infant monitoring technology company plans to grant underwriters a 30-day option to purchase additional shares up to 15% of the shares offered in the public offering.

The company intends to use net proceeds to support continued commercialization and research and development, and for general corporate purposes. All shares in the offering are being sold by Owlet.

William Blair and TD Cowen are serving as joint bookrunners for the offering, with Craig-Hallum acting as co-manager.

The proposed offering is subject to market and other conditions. The company stated there is no assurance regarding whether or when the offering may be completed, or the actual size or terms of the offering.

Owlet is conducting the offering pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on August 14, 2024. The offering will be made through a written prospectus and prospectus supplement that are part of the registration statement.

The Utah-based company develops digital health infant monitoring platforms, including FDA-cleared medical and consumer pediatric wearables and integrated camera systems. According to the company, over two million parents worldwide have used Owlet's platform since 2012.

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