Form 4: Owlet Inc. Director John C. Kim Converts Preferred Stock to Common Stock
SEC Form 4 Filing
Director John C. Kim converted 300 shares of Series A Convertible Preferred Stock to 43,731 shares of Common Stock in Owlet, Inc. on August 20, 2024.
Summary
- On August 20, 2024, John C. Kim, a director of Owlet, Inc., converted 300 shares of Series A Convertible Preferred Stock into 43,731 shares of Common Stock.
- The conversion occurred pursuant to the terms of an Investment Agreement dated February 17, 2023.
- The exchange ratio was 145.7726, adjusted to reflect a 1-for-14 reverse stock split completed on July 7, 2023.
- Following the transaction, Kim directly owns 125,404 shares of Owlet, Inc. Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a stock conversion, which is neutral in sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, providing transparency to the market regarding the holdings and activities of company directors.
Stakeholder Impact
- The conversion of preferred stock to common stock may have a slight dilutive effect on existing common shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/17/2023 | Date of the Investment Agreement between Owlet, Inc. and the Reporting Person. |
| 07/07/2023 | Date of the 1-for-14 reverse stock split completed by Owlet, Inc. |
| 08/20/2024 | Date of the transaction where the Reporting Person converted Series A Convertible Preferred Stock to Common Stock. |
| 08/22/2024 | Date of signature of the Form 4 filing. |
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