Owlet

Owlet’s Dream Sock [Image from Owlet]Owlet (NYSE:OWLT) announced today that it entered into agreements for a private placement worth proceeds of approximately $9 million.

Lehi, Utah-based Owlet’s placement relates to the sale of shares of its newly issued Series B convertible preferred stock and warrants to purchase Class A common stock. The conversion ratio for the stock and warrants reflects a 25% premium to the company’s most recent closing price on Feb. 23.

Owlet expects the transaction to close on Feb. 28, subject to customary closing conditions.

Under the terms of the agreements, Owlet plans to issue shares of Series B stock convertible into approximately 1.2 million shares of common stock. Each purchaser also received a warrant to purchase 150% of the number of shares of common stock into which their Series B stock is convertible. Owlet priced the warrants at $7.7125 per share. The holder can exercise them at any tome on or after th…

Owlet’s Dream Sock [Image from Owlet]Owlet recently announced it launched two infant monitoring devices.

The Dream Sock and BabySat devices deliver real-time health insights with medical-grade accuracy for at-home infant care. They recently received FDA 510(k) clearance.

“We are on a mission to help parents monitor what matters most and are proud to now offer two FDA-cleared, at-home infant monitors to countless parents who want and need more information on their baby’s well-being,” Owlet CEO and cofounder Kurt Workman said in a news release. “Both the FDA-cleared Dream Sock and BabySat devices are a representation of our endless commitment to providing clarity and peace of mind for parents, while also setting new standards in the industry of infant care.”

More about Dream Sock

Dream Sock is a medical use oximetry solution for infants without needing a prescription. It received FDA de novo clearance in November 2023. It has been rigorously tested in h…

Owlet (NYSE: OWLT) announced today that it has submitted a 510(k) premarket notification to the FDA for a new prescription monitoring device for infants.

The Lehi, Utah–based company’s device uses pulse oximetry technology. Physicians could prescribe it to assist with in-home monitoring of babies who are patients. Parents receive alerts from the Owlet device when their child’s heart rate or oxygen saturation level (SpO2) does not fall within prescribed ranges.

“As noted in our recent earnings release, this is a major milestone for Owlet as we work toward our mission, representing several years of work, including clinical and safety studies,” CEO and co-founder Kurt Workman said in a news release.

“This device will help the most vulnerable of babies, and we are optimistic about and excited for the opportunity ahead as we develop and expand our core technologies to include medical devices.”

Responding to FDA warning letter

A team o…