Owlet Announces Proposed Public Offering Page 1

Owlet, Inc. (“Owlet” or the “Company”) (NYSE:OWLT), the pioneer in smart baby monitoring, today announced that it intends to offer and sell its Class A common stock in an underwritten public offering. In addition, the Company intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the gross proceeds of its Class A common stock at the public offering price per share, before underwriting discounts and commissions. All shares in the proposed offering will be sold by the Company.

Owlet intends to use the net proceeds from the proposed public offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses.