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Owlet Regains Compliance With NYSE Continued Listing Standards

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Owlet, Inc. (NYSE:OWLT), a pioneer in smart infant monitoring, has regained compliance with the NYSE's continued listing standards. The company had previously been notified on April 4, 2023, that it was not in compliance with Section 802.01B of the NYSE Listed Company Manual due to its average global market capitalization falling below $50 million over a consecutive 30-day trading period, while simultaneously reporting stockholders' equity below $50 million.

As a result of achieving compliance with the NYSE's minimum market capitalization requirement, Owlet is no longer considered out of compliance with these standards. The 'BC' (below compliance) indicator has been removed from the company's Class A common stock, and Owlet is no longer listed as being below continued listing standards on the NYSE website. The company will be subject to a 12-month follow-up period to ensure ongoing compliance with the NYSE's continued listing standards.

Owlet, Inc. (NYSE:OWLT), un pioniere nel monitoraggio intelligente dei neonati, ha riottenuto la conformità agli standard di quotazione continua della NYSE. L'azienda era stata precedentemente avvisata il 4 aprile 2023, che non era conforme alla Sezione 802.01B del Manuale delle Aziende Quotabili della NYSE a causa della sua capitalizzazione di mercato globale media, scesa al di sotto dei 50 milioni di dollari per un periodo di negoziazione consecutivo di 30 giorni, mentre segnalava contemporaneamente un patrimonio netto degli azionisti inferiore ai 50 milioni di dollari.

Come risultato dell'aver raggiunto la conformità con il requisito minimo di capitalizzazione di mercato della NYSE, Owlet non è più considerata non conforme a questi standard. L'indicatore 'BC' (sotto conformità) è stato rimosso dalle azioni comuni di Classe A dell'azienda, e Owlet non è più elencata come sotto gli standard di quotazione continua sul sito della NYSE. L'azienda sarà soggetta a un periodo di monitoraggio di 12 mesi per garantire la continua conformità agli standard di quotazione della NYSE.

Owlet, Inc. (NYSE:OWLT), un pionero en la monitorización inteligente de bebés, ha recuperado el cumplimiento de los estándares de cotización continua de la NYSE. La compañía había sido notificada previamente el 4 de abril de 2023, de que no cumplía con la Sección 802.01B del Manual de Empresas Cotizadas de la NYSE debido a que su capitalización de mercado global promedio cayó por debajo de los 50 millones de dólares durante un período de negociación consecutivo de 30 días, además de reportar simultáneamente un patrimonio neto de los accionistas por debajo de los 50 millones de dólares.

Como resultado de cumplir con el requisito mínimo de capitalización de mercado de la NYSE, Owlet ya no se considera fuera de cumplimiento con estos estándares. El indicador 'BC' (por debajo del cumplimiento) ha sido eliminado de las acciones ordinarias de Clase A de la compañía, y Owlet ya no aparece como estando por debajo de los estándares de cotización continua en el sitio web de la NYSE. La empresa estará sujeta a un período de seguimiento de 12 meses para garantizar el cumplimiento continuo de los estándares de cotización de la NYSE.

Owlet, Inc. (NYSE:OWLT), 스마트 아기 모니터링의 선구자로, NYSE의 지속적 상장 기준 준수를 회복하였습니다. 이 회사는 2023년 4월 4일에 자사의 평균 글로벌 시장 가치가 연속 30일 거래 기간 동안 5천만 달러 이하로 떨어지면서 NYSE 상장 회사 매뉴얼 제802.01B 조항을 준수하지 않는다는 통지를 받았습니다. 동시에 주주 자본도 5천만 달러 이하로 보고하였습니다.

NYSE의 최소 시장 자본화 요구 사항을 준수함에 따라 Owlet은 더 이상 비준수로 간주되지 않습니다. 'BC' (비준수 기준 이하) 지표는 회사의 클래스 A 보통주에서 제거되었고, Owlet은 더 이상 NYSE 웹사이트에서 지속적 상장 기준 미달로 분류되지 않습니다. 이 회사는 NYSE의 지속적 상장 기준 준수를 보장하기 위해 12개월의 추적 기간에 따라 관리될 것입니다.

Owlet, Inc. (NYSE:OWLT), un pionnier dans la surveillance intelligente des nourrissons, a rétabli sa conformité aux normes de cotation continue de la NYSE. L'entreprise avait été informée le 4 avril 2023 qu'elle n'était pas conforme à la section 802.01B du Manuel des sociétés cotées de la NYSE en raison d'une capitalisation boursière mondiale moyenne tombée en dessous de 50 millions de dollars pendant une période de négociation consécutive de 30 jours, tout en rapportant simultanément un capital des actionnaires inférieur à 50 millions de dollars.

A la suite de l'atteinte de la conformité avec le minimum requis en capitalisation boursière, Owlet n'est plus considérée comme non conforme à ces normes. L'indicateur 'BC' (en deçà de la conformité) a été supprimé des actions ordinaires de classe A de l'entreprise, et Owlet n'est plus répertoriée comme étant en dessous des normes de cotation continue sur le site Web de la NYSE. L'entreprise sera soumise à une période de suivi de 12 mois pour assurer le respect continu des normes de cotation de la NYSE.

Owlet, Inc. (NYSE:OWLT), ein Pionier im Bereich der intelligenten Säuglingsüberwachung, hat die Einhaltung der fortlaufenden Zulassungsstandards der NYSE wiedererlangt. Das Unternehmen war zuvor am 4. April 2023 darüber informiert worden, dass es aufgrund einer durchschnittlichen globalen Marktkapitalisierung von unter 50 Millionen Dollar über einen aufeinander folgenden Zeitraum von 30 Handelstagen nicht den Anforderungen gemäß Abschnitt 802.01B des NYSE-Listenhandbuchs entspricht, während gleichzeitig das Eigenkapital der Aktionäre unter 50 Millionen Dollar gemeldet wurde.

Durch die Wiederherstellung der Einhaltung des Mindestmarktkapitalisierungsanforderung der NYSE wird Owlet nicht mehr als nicht konform angesehen mit diesen Standards. Der 'BC'-Indikator (unterhalb der Konformität) wurde von den Class-A-Vorzugsaktien des Unternehmens entfernt, und Owlet wird nicht mehr auf der NYSE-Website als unterhalb der fortlaufenden Zulassungsstandards aufgeführt. Das Unternehmen unterliegt einer 12-monatigen Follow-up-Phase, um die fortlaufende Einhaltung der Listungsstandards der NYSE sicherzustellen.

Positive
  • Regained compliance with NYSE continued listing standards
  • Removal of 'BC' indicator from Class A common stock
  • No longer listed as below continued listing standards on NYSE website
Negative
  • None.

Insights

Owlet's regaining of compliance with NYSE listing standards is a positive development, albeit with immediate financial impact. This news removes a significant risk factor that could have led to delisting, which would have severely impacted investor confidence and stock liquidity.

The company's ability to maintain an average global market capitalization above $50 million over 30 trading days suggests a stabilization or improvement in investor sentiment. However, it's important to note that this compliance doesn't necessarily reflect improved financial performance or fundamentals.

Investors should remain cautious as Owlet enters a 12-month follow-up period. The company will need to demonstrate sustained compliance and potentially improve its financial position to avoid future listing issues. This situation underscores the importance of monitoring Owlet's financial reports and market performance closely in the coming quarters.

LEHI, Utah--(BUSINESS WIRE)-- Owlet, Inc. (“Owlet” or the “Company”) (NYSE:OWLT), a pioneer of smart infant monitoring, today announced that it has received formal notice from the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the NYSE’s continued listing standards.

As previously disclosed, on April 4, 2023, Owlet was notified by the NYSE that the Company was not in compliance with Section 802.01B of the NYSE Listed Company Manual because its average global market capitalization over a consecutive 30-day trading day period was less than $50 million and, at the same time, its last reported stockholders’ equity was less than $50 million. As a result of the Company’s achievement of compliance with the NYSE’s minimum market capitalization requirement for the requisite period of time, the NYSE has advised that the Company is no longer considered out of compliance with these continued listing standards, and the below compliance “BC” indicator has been removed from the Company’s Class A common stock. Additionally, the Company is no longer noted as being below continued listing standards on the NYSE’s website (www.nyse.com). In accordance with the NYSE’s Listed Company Manual, the Company will be subject to a 12-month follow-up period within which the Company will be reviewed to confirm that the Company does not once again fall below any of the NYSE’s continued listing standards.

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 within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s compliance with NYSE continued listing standards. In some cases, you can identify forward-looking statements by terms such as “will,” “estimate,” “may,” “believes,” “plans,” “expects,” “anticipates,” “intends,” “goal,” “potential,” “upcoming,” “outlook,” “guidance,” the negation thereof, or similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on the Company’s expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. For all such forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. The Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by our forward-looking statements. Many important factors could affect the Company’s future results and cause those results to differ materially from those expressed in or implied by the Company’s forward-looking statements. Such factors include, but are not limited to, the Company’s ability to maintain compliance with applicable listing standards of the NYSE and other risks and uncertainties set forth in the Company’s other releases, public statements and filings with the U.S. Securities and Exchange Commission, including those identified in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as any such factors may be updated from time to time in the Company’s other filings with the SEC, including, but not limited to, the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024. All such forward-looking statements attributable to the Company or any person acting on the Company’s behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Moreover, the Company operates in an evolving environment. New risk factors and uncertainties may emerge from time to time, and factors that the Company currently deems immaterial may become material, and it is impossible for the Company to predict such events or how they may affect Owlet. Except as required by law, the Company assumes no obligation to update any forward-looking statements after the date of this press release, whether because of new information, future events or otherwise, although Owlet may do so from time to time. The Company does not endorse any projections regarding future performance that may be made by third parties.

Investor Relations:

ir@owletcare.com

Media:

pr@owletcare.com

Source: Owlet, Inc.

FAQ

Why was Owlet (OWLT) previously not in compliance with NYSE listing standards?

Owlet was not in compliance because its average global market capitalization over a consecutive 30-day trading period was less than $50 million, and its last reported stockholders' equity was also less than $50 million.

What does regaining compliance mean for Owlet (OWLT) stock?

Regaining compliance means that Owlet's stock will continue to be listed on the NYSE without the 'BC' (below compliance) indicator, potentially improving investor confidence and market perception.

Is Owlet (OWLT) still at risk of being delisted from the NYSE?

While Owlet has regained compliance, it will be subject to a 12-month follow-up period to ensure it maintains compliance with the NYSE's continued listing standards.

When did Owlet (OWLT) receive notice of non-compliance from the NYSE?

Owlet received notice of non-compliance from the NYSE on April 4, 2023.

Owlet, Inc.

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