Latham & Watkins Advises Owlet on US$30 Million Class A Stock Offering After Advising on Exchange of Series A and Series B Warrants

Owlet, Inc. (Owlet or the Company) (NYSE: OWLT), the pioneer of smart infant monitoring, has announced the pricing of an underwritten public offering of 4,196,000 shares of the Company’s Class A common stock (the Offering). The shares of Class A common stock are being sold at a public offering price of US$7.15 per share, before underwriting discounts and commissions. All of the shares in the Offering are to be sold by the Company. The gross proceeds to Owlet from the Offering are expected to be approximately US$30 million, before deducting underwriting discounts and commissions and other offering expenses. The Company has granted the underwriters of the Offering a 30-day option to purchase up to an additional 629,400 shares of Class A common stock at the public offering price less the underwriting discounts and commissions. The Offering is expected to close on or about October 23, 2025, subject to the satisfaction of customary closing conditions.

The Offering comes following the closing of Owlet’s previously announced transaction with a majority of the holders of the Company’s Series A and Series B warrants to exchange their warrants for Class A common stock.

Latham & Watkins LLP is advising Owlet in the offering and advised on the warrant exchange with a Capital Markets team led by Orange County partner Drew Capurro, with associates Jake Walsh and Kennedy Holmes, with assistance from Ashley Nelson. Advice was also provided on regulatory matters by Bay Area partners Betty Pang and Heather Deixler, Washington, D.C. partner Elizabeth Richards, Paris/Brussels partner Eveline Van Keymeulen, and Washington, D.C. counsel Monica Groat, with associates Jeanne Fabre, Oliver Mobasser, Chad Leiper, and Luke Nauth; on tax matters by Bay Area partner Katharine Moir, with associate Tessa Young; and on litigation matters by Christopher Turner.