Owlet, Inc. (“Owlet” or the “Company”) (NYSE: OWLT), the pioneer of smart infant monitoring, today announced a proposed underwritten public offering of its Class A common stock (the “Offering”). In addition, Owlet intends to grant the underwriters a 30-day option to purchase additional shares of its Class A common stock in an amount up to 15% of the shares offered in the Offering, at the public offering price per share less underwriting discounts and commissions. All of the shares in the Offering are being offered by Owlet.

Owlet intends to use the net proceeds of the proposed Offering to support continued commercialization and research and development, and for general corporate purposes.

William Blair and TD Cowen are acting as joint bookrunners for the Offering. Craig-Hallum is acting as co-manager for the Offering.

The proposed Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

The securities described above are being offered by Owlet pursuant to an effective shelf registration statement on Form S-3 (File No. 333-281556) that was previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 14, 2024. The Offering will be made only by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the Offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by request from: William Blair & Company, L.L.C., Attn: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at 1-800-621-0687 or by email at: prospectus@williamblair.com; or TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Owlet, Inc.

Owlet’s digital health infant monitoring platform is transforming the journey of parenting. The Company (NYSE: OWLT) offers FDA-cleared medical and consumer pediatric wearables and an integrated HD visual and audio camera that provides real-time data and insights to parents who safeguard health, optimize wellness, and ensure peaceful sleep for their children.

Since 2012, over two million parents worldwide have used Owlet’s platform, contributing to one of the largest collections of consumer infant health and sleep data. The Company continues to develop software and digital data solutions to bridge the current healthcare gap between hospital and home and bring new insights to parents and caregivers globally. Owlet believes that every child deserves to live a long, happy, and healthy life.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including, without limitation, statements regarding the completion, timing and size of the proposed Offering, the grant to the underwriters of an option to purchase additional shares and the anticipated use of proceeds from the proposed Offering, are forward-looking statements reflecting the current beliefs and expectations of Owlet’s management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent Owlet’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, tariffs, the trading price and volatility of Owlet’s Class A common stock, the satisfaction of closing conditions related to the proposed Offering, and risks relating to Owlet’s business, including those identified in the “Risk Factors” section of Owlet’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, in its subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, as well as the preliminary prospectus supplement and accompanying prospectus relating to the proposed Offering. The forward-looking statements included in this press release speak only as of the date of this press release, and Owlet does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

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