John C. Kim - Feb 17, 2023 Form 4 Insider Report for Owlet, Inc. (OWLT)

Role
Director
Signature
/s/ Heidi M. Krings, Attorney-in-Fact
Stock symbol
OWLT
Transactions as of
Feb 17, 2023
Transactions value $
$500,000
Form type
4
Date filed
2/22/2023, 07:48 PM
Previous filing
Jan 27, 2023
Next filing
Mar 3, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OWLT Series A Convertible Preferred Stock +Buy $500,000 +500 $1,000.00 500 Feb 17, 2023 Common Stock 1,020,408 $1,000.00 Direct F1, F2
transaction OWLT Warrants (Right to Purchase Shares of Common Stock) +Buy +1,836,734 1,836,734 Feb 17, 2023 Common Stock 1,836,734 $0.33 Direct F3

Explanation of Responses:

Id Content
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. Kim, amongst others.
F2 The Series A Convertible Preferred Stock does not have an expiration date.
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. Kim (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.