Owlet has entered into a new $25 million asset-based revolving credit facility with Wells Fargo, refinancing and replacing its existing debt. The new facility lowers the interest rate margin to SOFR plus 2.00% to 2.25%, a reduction of at least 525 basis points from the previous SOFR plus 7.50% to 8.50%. Following the closing on June 26, 2026, Owlet's total liquidity stood at approximately $33.8 million, including cash and available borrowing capacity. The facility matures in three years and includes an option to increase commitments to $35 million, subject to lender approval. Chief Financial Officer Amanda Twede Crawford stated the refinancing meaningfully lowers annual interest expense while enhancing financial flexibility to support strategic priorities.
Owlet IncNew $25M credit facility lowers interest rate margin by at least 525 bps, reducing annual interest expense and enhancing financial flexibility.
Wells Fargo & Company