Owlet entered into a Credit Agreement for a secured asset-based revolving credit facility to refinance debt and strengthen liquidity. The $25 million facility, which can be increased to $35 million, matures in three years and bears interest at daily SOFR plus 2.00% or 2.25% based on availability. On June 26, Owlet drew $17.063 million to repay and extinguish borrowings under its prior ABL line and term loan. The facility includes a minimum liquidity covenant of $7.5 million and EBITDA thresholds, and is guaranteed by the parent and secured by substantially all personal property.
Agreement details:
- Agreement type: Secured three-year asset-based revolving credit facility
- Counterparty: Wells Fargo
- Signed / Effective: Jun 26 2026 / Jun 26 2026
- Duration / Termination: 3 years
- Reason: Refinance debt and enhance liquidity
Original SEC Filing:
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