Owlet Receives Notice Regarding NYSE Continued Listing Standards
December 05 2022 - 4:05PM
Business Wire
Owlet, Inc. (NYSE: OWLT) (the “Company”) reports that on
November 29, 2022, it received notice from the New York Stock
Exchange (“NYSE”) that as of November 28, 2022, the average closing
price of the Company’s common stock was less than $1.00 per share
over a period of 30 consecutive trading days, and the Company is
therefore not in compliance with Section 802.01C of the NYSE Listed
Company Manual.
As required by the NYSE, the Company plans to notify the NYSE
within the prescribed period of the Company’s intent to cure the
deficiency and restore its compliance within six months of its
receipt of the notice. The Company can regain compliance with the
NYSE continued listing standards at any time during the six-month
cure period if on the last trading day of any calendar month during
the cure period, the Company’s common stock has a closing share
price of at least $1.00 and an average closing share price of at
least $1.00 over the 30 trading-day period ending on the last
trading day of that month.
The Company’s management team is evaluating all possible options
to restore compliance and increase value for Company shareholders.
Also, the notice has no immediate impact on the listing or trading
of the Company’s shares of common stock or warrants, which will
continue to be listed and traded on the NYSE during this period,
subject to the Company’s compliance with other NYSE continued
listing standards and other rights of the NYSE to delist the
stock.
About Owlet, Inc.
Owlet was founded by a team of parents in 2012. Owlet’s mission
is to empower parents with the right information at the right time,
to give them more peace of mind and help them find more joy in the
journey of parenting. Owlet’s digital parenting platform aims to
give parents real-time data and insights to help parents feel more
calm and confident. Owlet believes that every parent deserves peace
of mind and the opportunity to feel their well-rested best. To
learn more, visit www.owletcare.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221205005757/en/
Investors Mike Cavanaugh
Westwicke/ICR Phone: +1.617.877.9641
mike.cavanaugh@westwicke.com
Media Jane Putnam Owlet, Inc.
Phone: +1.801.647.0025 jputnam@owletcare.com
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