Owlet Inc., a Delaware-based company, announced the execution of a First Amendment to its Credit and Security Agreement on June 11, 2025. This amendment, entered into with ABL OPCO LLC and various financial institutions as lenders, aims to modify financial covenants for Owlet's wholly-owned subsidiary, Owlet Baby Care, Inc. The updated agreement allows for increased capital expenditures in certain fiscal years and broadens the eligibility for accounts receivable that the subsidiary can use for borrowing. This strategic financial move is intended to provide the company with greater operational flexibility and support its growth initiatives.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Owlet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-25-031614), on June 16, 2025, and is solely responsible for the information contained therein.