Business Wire·Jun 30, 2026, 4:15 PM ET

Owlet Announces New $25 Million Credit Facility with Wells Fargo, Significantly Reducing Borrowing Costs and Enhancing Financial Flexibility

Owlet, Inc. (NYSE: OWLT) entered a new $25 million asset-based revolving credit facility with Wells Fargo on June 26, 2026.
The new facility refinances the Company's previous debt structure to reduce capital costs, enhance liquidity, & provide financial flexibility.
Interest rate margins were lowered to SOFR plus 2.00% to 2.25%, representing a reduction of at least 525 basis points from the prior 7.50% to 8.50% range.
Total liquidity comprising cash & available borrowing capacity stood at approximately $33.8 million as of June 26, 2026.
The facility offers up to $25 million in borrowing capacity with an option to increase commitments to $35 million subject to lender approval.
The credit agreement matures three years from the closing date.
Amanda Twede Crawford, Chief Financial Officer, stated the deal supports strategic priorities while maintaining disciplined capital allocation.
Andy Hay of Wells Fargo expressed support for Owlet's growth strategy & commitment to the ongoing relationship.