Owlet Announces Proposed Public Offering
Owlet, Inc. (NYSE:OWLT), a pioneer in smart infant monitoring, has announced plans for a public offering of its Class A common stock. The company intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the gross proceeds. Titan Partners Group, a division of American Capital Partners, is acting as the sole bookrunner for the offering.
Owlet plans to use the net proceeds for general corporate purposes, capital expenditures, working capital, and general and administrative expenses. The offering is subject to market conditions, and there's no guarantee of its completion or terms. The securities will be offered through an effective shelf registration statement on Form S-3 previously filed with the SEC.
Owlet, Inc. (NYSE:OWLT), pioniere nel monitoraggio intelligente per neonati, ha annunciato i piani per un'offerta pubblica delle sue azioni ordinarie di Classe A. L'azienda intende concedere all'underwriter un'opzione di acquisto di 30 giorni per ulteriori 15% dei proventi lordi. Titan Partners Group, una divisione di American Capital Partners, sta agendo come unico bookrunner per l'offerta.
Owlet prevede di utilizzare i proventi netti per scopi aziendali generali, spese in conto capitale, capitale circolante e spese generali e amministrative. L'offerta è soggetta alle condizioni di mercato, e non c'è garanzia di completamento o termini. I titoli saranno offerti tramite una dichiarazione di registrazione a scaffale efficace su Modulo S-3 precedentemente depositata presso la SEC.
Owlet, Inc. (NYSE:OWLT), pionero en la monitorización inteligente de bebés, ha anunciado planes para una oferta pública de sus acciones ordinarias de Clase A. La compañía tiene la intención de otorgar al suscriptor una opción de compra de 30 días para adquirir hasta un 15% adicional de los ingresos brutos. Titan Partners Group, una división de American Capital Partners, actúa como el único bookrunner para la oferta.
Owlet planea usar los ingresos netos para fines corporativos generales, gastos de capital, capital de trabajo y gastos generales y administrativos. La oferta está sujeta a las condiciones del mercado, y no hay garantía de su finalización o términos. Los valores se ofrecerán a través de una declaración de registro en efectivo efectiva en el Formulario S-3 previamente presentado ante la SEC.
Owlet, Inc. (NYSE:OWLT), 스마트 유아 모니터링의 선구자로서 클래스 A 보통주에 대한 공모 계획을 발표했습니다. 회사는 인수인에게 총 수익의 15%를 추가 구매할 수 있는 30일 옵션을 부여할 예정입니다. Titan Partners Group, American Capital Partners의 분사는 이 공모의 단독 북러너로 활동하고 있습니다.
Owlet은 순수입을 일반 기업 용도, 자본 지출, 운영 자본 및 일반 행정 경비에 사용할 계획입니다. 이 공모는 시장 조건에 따라 달라지며, 완료 또는 조건에 대한 보장은 없습니다. 증권은 SEC에 이전에 제출된 S-3 양식의 유효한 선반 등록 명세서를 통해 제공될 것입니다.
Owlet, Inc. (NYSE:OWLT), pionnier dans la surveillance intelligente des nourrissons, a annoncé des plans pour une offre publique de ses actions ordinaires de Classe A. L'entreprise prévoit d'accorder au souscripteur une option d'achat de 30 jours pour acquérir jusqu'à 15 % supplémentaires des produits bruts. Titan Partners Group, une division d'American Capital Partners, agit en tant que bookrunner unique pour l'offre.
Owlet prévoit d'utiliser les produits nets pour des fins corporatives générales, des dépenses d'investissement, du fonds de roulement et des frais généraux et administratifs. L'offre est soumise aux conditions du marché, et aucune garantie n'est donnée pour son achèvement ou ses conditions. Les titres seront proposés par le biais d'une déclaration d'enregistrement de shelf efficace sur le formulaire S-3 précédemment déposé auprès de la SEC.
Owlet, Inc. (NYSE:OWLT), ein Pionier in der intelligenten Überwachung von Säuglingen, hat Pläne für ein öffentliches Angebot seiner Stammaktien der Klasse A bekannt gegeben. Das Unternehmen beabsichtigt, dem Underwriter eine 30-tägige Option zu gewähren, um bis zu 15% der Bruttoerlöse zusätzlich zu kaufen. Titan Partners Group, eine Abteilung von American Capital Partners, fungiert als alleiniger Bookrunner für das Angebot.
Owlet plant, die Nettoproceeds für allgemeine Unternehmenszwecke, Investitionsausgaben, Betriebskapital und allgemeine sowie Verwaltungskosten zu verwenden. Das Angebot unterliegt den Marktbedingungen, und es gibt keine Garantie für den Abschluss oder die Bedingungen. Die Wertpapiere werden durch eine zuvor bei der SEC eingereichte wirksame Shelf-Registrierungserklärung auf Form S-3 angeboten.
- Potential to raise capital for general corporate purposes and working capital
- Opportunity for expansion and growth through capital expenditures
- Effective shelf registration statement already in place, streamlining the offering process
- Potential dilution of existing shareholders' ownership
- Uncertainty regarding the offering's completion and terms
- Additional shares may put downward pressure on stock price
Insights
Owlet's proposed public offering signals potential financial strain and a need for additional capital. This move could dilute existing shareholders' stakes, which is often viewed negatively. However, the influx of cash could strengthen Owlet's balance sheet and fund growth initiatives. The use of proceeds for "general corporate purposes" lacks specificity, raising questions about the company's strategic direction. The offering's success will depend on investor appetite for OWLT stock, considering its
Owlet's decision to raise capital through a public offering reflects broader challenges in the smart baby tech market. The company faces increasing competition and regulatory hurdles, which have impacted its growth trajectory. The offering's timing, amidst a challenging macroeconomic environment, could indicate urgency in securing funds. Investor response will be crucial, potentially serving as a litmus test for market confidence in Owlet's business model and the wider infant monitoring sector. The outcome of this offering could influence investor sentiment towards similar companies in the space.
The use of a shelf registration statement for this offering suggests Owlet had anticipated the need for additional capital. This proactive approach is commendable from a legal standpoint. However, the company must ensure full compliance with SEC regulations, particularly in light of its previous regulatory challenges with the FDA. The granting of a 30-day option to the underwriter is a standard practice but could lead to further dilution. Investors should carefully review the prospectus supplement for any risk factors or material changes in Owlet's business operations since the initial shelf registration.
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
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
Source: Owlet, Inc.
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