Owlet (OWLT) has shared an announcement.
Owlet, Inc. has secured a $9.25 million investment through a private placement of preferred shares and warrants to a group of key investors, including Eclipse Ventures, Trilogy Equity Partners, and board member John Kim. Slated to close by February 28, 2024, the proceeds from this strategic financial move will bolster the company’s general corporate funds and help in advancing its strategic initiatives. The preferred shares offer a strong position in the event of dividends or liquidation, with added conversion and redemption rights. This investment also includes provisions for registration rights and participation in future financings, ensuring these investors remain integral to Owlet’s growth trajectory.
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