Owlet (OWLT) said Wednesday that it has priced a public offering of about 4.2 million shares at $7.15 each for gross proceeds of about $30 million.
Underwriters have been granted a 30-day option to buy up to 629,400 additional shares.
Net proceeds from the offering, which is set to close around Oct. 23, will be used to finance commercialization and research and development, as well as for general corporate purposes.
Shares of the company fell more than 11% in after-market hours.
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