Latham & Watkins Advises Owlet in US$30 Million Private Placement Financing

Owlet, Inc. (NYSE: OWLT) has announced it has consummated a sale of its newly issued Series A convertible preferred stock and warrants to purchase its Class A common stock in a private placement with certain institutional and other accredited investors for gross proceeds to Owlet of US$30 million, before deducting offering expenses. The transaction closed on February 17, 2023 and involved participation from new and existing investors.

Latham & Watkins LLP represents Owlet in the financing round with a corporate deal team led by Orange County partner Drew Capurro and Bay Area partner Benjamin Potter, with Orange County associates Eric Hanzich, Tiana Baghdikian, and Kennedy Holmes.  Advice was also provided on capital markets matters by New York partner Peter Sluka, with associate Paul Rafla; on tax matters by Bay Area partner Katharine Moir; on finance matters by Bay Area partner Dan Van Fleet, with Los Angeles associate Hyunji Lee, and Bay Area associate Tyler Davis; on regulatory matters by Washington, D.C. partner Elizabeth Richards; and on NYSE matters by New York counsel Gail Neely.