Form 4: Trilogy Equity Partners Converts Preferred Stock in Owlet, Inc.

Trilogy Equity Partners, a 10% owner of Owlet, Inc., converted Series A Convertible Preferred Stock into common stock on August 20, 2024.

Summary

• On August 20, 2024, Trilogy Equity Partners, LLC converted 1,631 shares of Series A Convertible Preferred Stock of Owlet, Inc. into 237,755 shares of common stock.
• The conversion occurred at an exchange ratio of 145.7726, according to the terms of the Investment Agreement dated February 17, 2023.
• Following the transaction, Trilogy Equity Partners directly owns 880,999 shares of Owlet, Inc. common stock.
• The conversion price for the Series A Convertible Preferred Stock was $1,000.
• The number of shares and exchange ratio have been adjusted to reflect the 1-for-14 reverse stock split the Company completed on July 7, 2023.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing detailing a stock conversion. It doesn't inherently convey positive or negative sentiment, but rather reports a factual transaction. The sentiment is neutral to slightly positive as it reflects an expected part of the investment agreement.

Industry Context

This filing indicates changes in ownership structure, which is a common occurrence in publicly traded companies. Conversions of preferred stock to common stock can impact the company's capital structure and potentially affect the stock price.

Stakeholder Impact

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

Key Dates