Form 4: Owlet Director Susan Lior Reports Conversion of Preferred Stock to Common Stock

Director Susan Lior reports the conversion of Series A Convertible Preferred Stock to Common Stock by Eclipse Early Growth Fund I, L.P. on August 20, 2024.

Summary

• Susan Lior, a director of Owlet, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On August 20, 2024, Eclipse Early Growth Fund I, L.P. converted 12,120 shares of Series A Convertible Preferred Stock into 1,766,763 shares of Common Stock.
• The conversion occurred at an exchange ratio of 145.7726, adjusted for a 1-for-14 reverse stock split completed on July 7, 2023.
• The shares are indirectly held through Eclipse Early Growth Fund I, L.P., where Susan Lior is the sole managing member of the general partner, Eclipse Early Growth GP I, LLC.
• Lior disclaims beneficial ownership of these shares except to the extent of her pecuniary interests.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The conversion of preferred stock to common stock may dilute existing shareholders' equity.

Key Dates