# EDGAR Filing Document

**Accession Number:** 0001832895
**File Stem:** 0001628280-23-004652
**Filing Date:** 2023-2
**Character Count:** 7746
**Document Hash:** efef5b8d5d7e1018e5f6efe52a455dda
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-23-004652.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001628280-23-004652

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230217

**FILED AS OF DATE**: 20230222

**DATE AS OF CHANGE**: 20230222

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Susan Lior
- **CENTRAL INDEX KEY:** 0001832895

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39516
- **FILM NUMBER:** 23655615

**MAIL ADDRESS:**
- **STREET 1:** 1412 62ND STREET
- **CITY:** EMERYVILLE
- **STATE:** CA
- **ZIP:** 94608
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Owlet, Inc.
- **CENTRAL INDEX KEY:** 0001816708
- **STANDARD INDUSTRIAL CLASSIFICATION:** MEASURING & CONTROLLING DEVICES, NEC [3829]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1999 AVENUE OF THE STARS
- **STREET 2:** SUITE 2088
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067
- **BUSINESS PHONE:** 424-208-8488

**MAIL ADDRESS:**
- **STREET 1:** 1999 AVENUE OF THE STARS
- **STREET 2:** SUITE 2088
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sandbridge Acquisition Corp
- **DATE OF NAME CHANGE:** 20200702

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Susan Lior<br><sub>(Last) (First) (Middle)</sub><br>C/O OWLET, INC.<br>3300 NORTH ASHTON BOULEVARD, SUITE 300<br><sub>(Street)</sub><br>LEHI, UT 84043<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-17 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Owlet, Inc. [ OWLT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Series A Convertible Preferred Stock | $1000.0 | 2023-02-17 |  | P |  | 20200<sup>(1)</sup> |  | 2023-02-17 | <sup>(2)</sup> | Common Stock | 41224489.0 | $1000 | 20200<sup>(1)</sup> | I | See footnote.<sup>(3)</sup> |
| Warrants (Right to Purchase Shares of Common Stock) | 0.333<sup>(4)</sup> | 2023-02-17 |  | P |  | 74204080<sup>(4)</sup> |  | 2023-02-17 | 2028-02-17 | Common Stock | 74204080.0<sup>(4)</sup> | <sup>(4)</sup> | 74204080 | I | See footnote.<sup>(3)</sup> |

---

### Footnotes:

(1) The Series A Convertible Preferred Stock is convertible into shares of Class A common stock, par value $0.0001 per share (the "Common Stock"), of Owlet, Inc. (the "Company").  The conversion rate shall initially be 2,040.8163 shares of Common Stock per each share of Series A Convertible Preferred Stock, subject to adjustment from time to time pursuant to the terms and conditions of the Investment Agreement, dated February 17, 2023, by and among the Company and Eclipse Early Growth Fund I, L.P., amongst others.

(2) The Series A Convertible Preferred Stock does not have an expiration date.

(3) The shares of Series A Convertible Preferred Stock are held of record by Eclipse Early Growth Fund I, L.P. ("Eclipse EGF I").  Eclipse Early Growth GP I, LLC ("Eclipse EG GP I") is the general partner of Eclipse EGF I and may be deemed to have voting and dispositive power over the shares held by Eclipse EGF I.  Mr. Susan is the sole managing member of Eclipse EG GP I and may be deemed to have voting and dispositive power over the shares held by Eclipse EGF I.  Eclipse EGF GP I and Mr. Susan disclaim beneficial ownership of the shares held by Eclipse EGF I except to the extent of their respective pecuniary interests therein, if any.

(4) As set forth in the Warrant to Purchase Shares of Common Stock of Owlet, Inc., dated February 17, 2023, by the Company and Eclipse EGF I, the exercise price and the number of shares of the Company's Common Stock issuable on exercise are subject to adjustment upon the occurrence of certain events.  As such, the exercise price and the number of shares of Common Stock issuable upon exercise as reported on this Form 4 are subject to change upon the occurrence of future events in accordance with the terms of the Warrant.

**Signature:** /s/ Heidi M. Krings, Attorney-in-Fact  
**Date:** 2023-02-22

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**