Owlet Inc. announced it has entered into an underwriting agreement with William Blair & Company, L.L.C. and TD Securities $(USA)$ LLC to issue and sell 4,196,000 shares of its Class A common stock at a price of $7.15 per share. The underwriters have also been granted a 30-day option to purchase up to an additional 629,400 shares at the public offering price, less underwriting discounts and commissions. The company plans to use the net proceeds to support continued commercialization, research and development, and for general corporate purposes. Directors, executive officers, and certain stockholders have agreed to a 90-day lock-up period, restricting the sale or transfer of their shares without the underwriters' consent, subject to certain exceptions.