John C. Kim - 29 Feb 2024 Form 4 Insider Report for Owlet, Inc. (OWLT)

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 B Convertible Preferred Stock	Purchase	$250,000	+250		$1000.00^*	250	29 Feb 2024	Common Stock	32,414		Direct	F1, F2
transaction	OWLT	Common Stock Warrant (Right to Buy)	Purchase		+48,621			48,621	29 Feb 2024	Common Stock	48,621	$7.71	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	The Series B Convertible Preferred Stock is convertible into shares of Class A common stock, par value $0.0001 per share ("Common Stock") of the Issuer. The conversion rate shall initially be 129.6596 shares of Common Stock per each share of Series B Convertible Preferred Stock, subject to adjustment from time to time pursuant to the terms and conditions of the Investment Agreement, dated February 25, 2024, by and among the Issuer and Mr. Kim, amongst others.
F2	The Series B 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 29, 2024, by the Issuer and Mr. Kim (the "Warrant"), the exercise price and the number of shares of the Issuer'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.