Owlet Shares Fall After Disclosing Plans for Stock Sale

Dow Jones09-12

By Stephen Nakrosis

Owlet's stock was down after the company said it planned to offer shares in an underwritten public offering.

The number of shares offered to be sold and at what price wasn't provided.

Shares fell 17% to $3.58 in after-hours trading on Wednesday. The stock ended the market session up 3.6% at $4.35, but have fallen 18% this year.

The digital health infant monitoring platform company said proceeds from the sale will go toward general corporate purposes, capital expenditures and other uses.

Owlet has a market cap of $39.53 million, 9.41 million shares outstanding, and a public float of 2.93 million shares.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 11, 2024 19:13 ET (23:13 GMT)

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