Kurt Workman - 17 Feb 2023 Form 4 Insider Report for Owlet, Inc. (OWLT)

Reporting relationship: President & CEO, Director
Issuer ticker: OWLT
Reported as of: 17 Feb 2023
Net transaction value: +$500,000
SEC form: 4
Accepted by SEC: 22 Feb 2023, 19:47:37 UTC
Prior SEC filing: 22 Jun 2023
Next SEC filing: 20 Apr 2023
Source filing: View source filing
Reporting owner signature: /s/ Heidi M. Krings, Attorney-in-Fact

Key filing fact

Kurt Workman filed Form 4 for Owlet, Inc. (OWLT) on 22 Feb 2023.

Key facts

This page summarizes Kurt Workman's Form 4 filing for Owlet, Inc. (OWLT).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 22 Feb 2023, 19:47.

Change

Previous filing in this sequence was filed on 22 Jun 2023.
Current net transaction value: +$500,000.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

OWLT transaction Derivative

Series A Convertible Preferred Stock

Purchase

Transaction value: $500,000
Shares: +500
Change %
Price: $1000.00^*
Shares after: 500
Date: 17 Feb 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,020,408
Exercise price: $1000.00
Footnotes: F1, F2

OWLT transaction Derivative

Warrants (Right to Purchase Shares of Common Stock)

Purchase

Transaction value
Shares: +1,836,734
Change %
Price
Shares after: 1,836,734
Date: 17 Feb 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,836,734
Exercise price: $0.3330
Footnotes: F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

The Series A Convertible Preferred Stock is convertible into shares of Class A common stock, par value $0.0001 per share (the "Common Stock"), of Owlet, Inc. (the "Company"). The conversion rate shall initially be 2,040.8163 shares of Common Stock per each share of Series A Convertible Preferred Stock, subject to adjustment from time to time pursuant to the terms and conditions of the Investment Agreement, dated February 17, 2023, by and among the Company and Mr. Workman, amongst others.

Footnote F2

The Series A Convertible Preferred Stock does not have an expiration date.

Footnote F3

As set forth in the Warrant to Purchase Shares of Common Stock of Owlet, Inc., dated February 17, 2023, by the Company and Mr. Workman (the "Warrant"), the exercise price and the number of shares of the Company's Common Stock issuable upon exercise are subject to adjustment upon the occurrence of certain events. As such, the exercise price and the number of shares of Common Stock issuable upon exercise as reported on this Form 4 are subject to change upon the occurrence of future events in accordance with the terms of the Warrant.