BRIEF-Owlet Co & Unit Entered Into Credit & Security Agreement With Financial Institutions

Reuters09-12

Sept 11 (Reuters) - Owlet Inc :

* OWLET INC: ENTERED INTO NEW DEBT ARRANGEMENTS & STARTED REFINANCING OF EXISTING LINE OF CREDIT & TERM LOAN AGREEMENTS WITH SILICON VALLEY BANK

* OWLET - UNDER TRANSACTIONS, USED EXISTING CASH TO REPAY & EXTINGUISH ALL BORROWINGS OUTSTANDING UNDER LINE OF CREDIT & TERM LOAN AGREEMENTS WITH SVB

* OWLET - CO & OBCI ENTERED INTO LOAN AND SECURITY AGREEMENT FOR TERM LOAN FACILITY OF UP TO $15 MILLION

* OWLET: CO & UNIT ENTERED INTO CREDIT & SECURITY AGREEMENT WITH FINANCIAL INSTITUTIONS

* OWLET: CREDIT AGREEMENT PROVIDES FOR ASSET-BASED REVOLVING CREDIT FACILITY IN MAXIMUM AMOUNT OF UP TO $15 MILLION

Source text for Eikon: Further company coverage:

((reuters.briefs@thomsonreuters.com;))

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