Owlet, Inc. (“Owlet” or the “Company”) (NYSE: OWLT), the pioneer of smart infant monitoring, today announced the pricing of an underwritten public offering of 4,196,000 shares of the Company’s Class A common stock (the “Offering”). The shares of Class A common stock are being sold at a public offering price of $7.15 per share, before underwriting discounts and commissions. All of the shares in the Offering are to be sold by the Company. The gross proceeds to Owlet from the Offering are expected to be approximately $30.0 million, before deducting underwriting discounts and commissions and other offering expenses. The Company has granted the underwriters of the Offering a 30-day option to purchase up to an additional 629,400 shares of Class A common stock at the public offering price less the underwriting discounts and commissions. The Offering is expected to close on or about October 23, 2025, subject to the satisfaction of customary closing conditions.

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

William Blair and TD Cowen are acting as the joint bookrunners for the Offering. Craig-Hallum is acting as co-manager for 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 is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement, copies of which may be obtained, when available, 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 of the Offering, the expected gross proceeds of the Offering, the anticipated use of proceeds from the Offering and the potential exercise by the underwriters of an option to purchase additional shares, 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 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 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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