<SEC-DOCUMENT>0000950170-24-024848.txt : 20240304
<SEC-HEADER>0000950170-24-024848.hdr.sgml : 20240304
<ACCEPTANCE-DATETIME>20240304161726
ACCESSION NUMBER:		0000950170-24-024848
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240229
FILED AS OF DATE:		20240304
DATE AS OF CHANGE:		20240304

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Eclipse Ventures Fund I, L.P.
		CENTRAL INDEX KEY:			0001641394
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39516
		FILM NUMBER:		24715173

	BUSINESS ADDRESS:	
		STREET 1:		501 SECOND STREET SUITE 300
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94107
		BUSINESS PHONE:		(415) 366-8393

	MAIL ADDRESS:	
		STREET 1:		501 SECOND STREET SUITE 300
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94107

	FORMER NAME:	
		FORMER CONFORMED NAME:	Formation8 Partners Hardware Fund I, L.P.
		DATE OF NAME CHANGE:	20150505

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Eclipse Continuity GP I, LLC
		CENTRAL INDEX KEY:			0001675124
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39516
		FILM NUMBER:		24715178

	BUSINESS ADDRESS:	
		STREET 1:		514 HIGH STREET
		STREET 2:		SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301
		BUSINESS PHONE:		(415) 692-1720

	MAIL ADDRESS:	
		STREET 1:		514 HIGH STREET
		STREET 2:		SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Eclipse Continuity Fund I, L.P.
		CENTRAL INDEX KEY:			0001675126
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39516
		FILM NUMBER:		24715175

	BUSINESS ADDRESS:	
		STREET 1:		514 HIGH STREET
		STREET 2:		SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301
		BUSINESS PHONE:		(415) 692-1720

	MAIL ADDRESS:	
		STREET 1:		514 HIGH STREET
		STREET 2:		SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Eclipse Early Growth Fund I, L.P.
		CENTRAL INDEX KEY:			0001877287
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39516
		FILM NUMBER:		24715177

	BUSINESS ADDRESS:	
		STREET 1:		514 HIGH STREET, SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301
		BUSINESS PHONE:		650-720-4667

	MAIL ADDRESS:	
		STREET 1:		514 HIGH STREET, SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Eclipse Ventures GP I, LLC
		CENTRAL INDEX KEY:			0001843678
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39516
		FILM NUMBER:		24715174

	BUSINESS ADDRESS:	
		STREET 1:		514 HIGH STREET
		STREET 2:		SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301
		BUSINESS PHONE:		650-720-4667

	MAIL ADDRESS:	
		STREET 1:		514 HIGH STREET
		STREET 2:		SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Eclipse Early Growth GP I, LLC
		CENTRAL INDEX KEY:			0001876955
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39516
		FILM NUMBER:		24715176

	BUSINESS ADDRESS:	
		STREET 1:		514 HIGH STREET, SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301
		BUSINESS PHONE:		650-720-4667

	MAIL ADDRESS:	
		STREET 1:		514 HIGH STREET, SUITE 4
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Owlet, Inc.
		CENTRAL INDEX KEY:			0001816708
		STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3300 NORTH ASHTON BOULEVARD
		STREET 2:		SUITE 300
		CITY:			LEHI
		STATE:			UT
		ZIP:			84043
		BUSINESS PHONE:		8443345330

	MAIL ADDRESS:	
		STREET 1:		3300 NORTH ASHTON BOULEVARD
		STREET 2:		SUITE 300
		CITY:			LEHI
		STATE:			UT
		ZIP:			84043

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Sandbridge Acquisition Corp
		DATE OF NAME CHANGE:	20200702
</SEC-HEADER>
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<SEQUENCE>1
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<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-02-29</periodOfReport>

    <issuer>
        <issuerCik>0001816708</issuerCik>
        <issuerName>Owlet, Inc.</issuerName>
        <issuerTradingSymbol>OWLT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001675124</rptOwnerCik>
            <rptOwnerName>Eclipse Continuity GP I, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>514 HIGH STREET, SUITE 4</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001877287</rptOwnerCik>
            <rptOwnerName>Eclipse Early Growth Fund I, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>514 HIGH STREET, SUITE 4</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001876955</rptOwnerCik>
            <rptOwnerName>Eclipse Early Growth GP I, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>514 HIGH STREET, SUITE 4</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001675126</rptOwnerCik>
            <rptOwnerName>Eclipse Continuity Fund I, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>514 HIGH STREET, SUITE 4</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001843678</rptOwnerCik>
            <rptOwnerName>Eclipse Ventures GP I, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>514 HIGH STREET, SUITE 4</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001641394</rptOwnerCik>
            <rptOwnerName>Eclipse Ventures Fund I, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>514 HIGH STREET, SUITE 4</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>968694</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1066472</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series B Convertible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-02-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2024-02-29</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>777957</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6000</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes.</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Warrant (Right To Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.7125</value>
                <footnoteId id="F6"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-02-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1166935</value>
                    <footnoteId id="F6"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2024-02-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2029-03-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1166935</value>
                    <footnoteId id="F6"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1166935</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes.</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The shares of Class A common stock, par value $0.0001 per share (the &quot;Common Stock&quot;), of the Issuer are held of record by Eclipse Ventures Fund I, L.P. (&quot;Eclipse I&quot;). Eclipse Ventures GP I, LLC (&quot;Eclipse I GP&quot;) is the general partner of Eclipse I and may be deemed to have voting and dispositive power over the shares held by Eclipse I. Lior Susan is the sole managing member of Eclipse I GP and may be deemed to have voting and dispositive power over the shares held by Eclipse I. Eclipse I GP and Mr. Susan disclaim beneficial ownership of the shares held by Eclipse I except to the extent of their respective pecuniary interests therein, if any.</footnote>
        <footnote id="F2">The shares of Common Stock are held of record by Eclipse Continuity Fund I, L.P. (&quot;Eclipse Continuity I&quot;). Eclipse Continuity GP I, LLC (&quot;Eclipse Continuity GP&quot;) is the general partner of Eclipse Continuity I and may be deemed to have voting and dispositive power over the shares held by Eclipse Continuity I. Mr. Susan is the sole managing member of Eclipse Continuity GP and may be deemed to have voting and dispositive power over the shares held by Eclipse Continuity I. Eclipse Continuity GP and Mr. Susan disclaim beneficial ownership of the shares held by Eclipse Continuity I except to the extent of their respective pecuniary interests therein, if any.</footnote>
        <footnote id="F3">The Series B Convertible Preferred Stock is convertible into shares of Common Stock. The conversion rate shall initially be 129.6596 shares of Common Stock per each share of Series B Convertible Preferred Stock, subject to adjustment from time to time pursuant to the terms and conditions of the Investment Agreement, dated February 25, 2024, by and among the Issuer and Eclipse Early Growth Fund I, L.P. (&quot;Eclipse EGF I&quot;), amongst others.</footnote>
        <footnote id="F4">The Series B Convertible Preferred Stock does not have an expiration date.</footnote>
        <footnote id="F5">The shares of Series B Convertible Preferred Stock are held of record by Eclipse EGF I. Eclipse Early Growth GP I, LLC (&quot;Eclipse EG GP I&quot;) 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 EG 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.</footnote>
        <footnote id="F6">As set forth in the Warrant to Purchase Shares of Common Stock of Owlet, Inc., dated February 29, 2024, by the Issuer and Eclipse EGF I (the &quot;Warrant&quot;), the exercise price and the number of shares of the Issuer's Common Stock issuable upon 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.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Eclipse Early Growth Fund I, L.P.,  by: Eclipse Early Growth GP I LLC, its General Partner, /s/ Lior Susan, Managing Member</signatureName>
        <signatureDate>2024-03-04</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Eclipse Early Growth GP I LLC,  by /s/ Lior Susan, Managing Member</signatureName>
        <signatureDate>2024-03-04</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Eclipse Continuity GP I, LLC,  /s/ Lior Susan, Managing Member</signatureName>
        <signatureDate>2024-03-04</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Eclipse Continuity Fund I, L.P.,  By: Eclipse Continuity GP I, LLC, its General Partner,  /s/ Lior Susan, Managing Member</signatureName>
        <signatureDate>2024-03-04</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Eclipse Ventures GP I, LLC,  /s/ Lior Susan, Managing Member</signatureName>
        <signatureDate>2024-03-04</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Eclipse Ventures Fund I, L.P.,  By: Eclipse Ventures GP I, LLC, its General Partner,  /s/ Lior Susan, Managing Member</signatureName>
        <signatureDate>2024-03-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
