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SCHEDULE 13D/A 0001875623 XXXXXXXX LIVE 4 Class A Common Stock, par value $0.0001 per share 10/10/2025 false 0001816708 69120X206 Owlet, Inc. 2940 West Maple Loop Drive Suite 203 Lehi UT 84048 Amy McCullough 425-458-5900 c/o Trilogy Equity Partners, LLC 155 108th Ave NE, Suite 400 Bellevue WA 98004 0001875623 N Trilogy Equity Partners, LLC OO N X1 2022178.00 0.00 2022178.00 0.00 2022178.00 N 8.7 OO Represents the following securities held directly by the Reporting Person: (i) 1,567,468 shares of the Issuer's Class A Common Stock, par value $0.0001 per share ("Common Stock"), (ii) 158,309 shares of Common Stock issuable upon conversion of Series A Convertible Preferred Stock, pursuant to an investment agreement entered into as of February 17, 2023 (the "2023 Investment Agreement"), and (iii) 296,401 shares of Common Stock issuable upon the conversion of Series B Convertible Preferred Stock, pursuant to an investment agreement entered into as of February 25, 2024 (the "2024 Investment Agreement"). Calculations of the percentage of the shares of Common Stock beneficially owned assumes (i) 22,788,420 shares of Common Stock outstanding as of October 10, 2025, as reported in the Issuer's Current Report on Form 8-K filed with the Securities Exchange Commission (the "SEC") on October 14, 2025, (ii) 158,309 shares of Common Stock issuable upon the conversion of Series A Convertible Preferred Stock purchased by the Reporting Person pursuant to the 2023 Investment Agreement, and (iii) 296,401 shares of Common Stock issuable upon the conversion of Series B Convertible Preferred Stock purchased by the Reporting Person pursuant to the 2024 Investment Agreement described herein. Class A Common Stock, par value $0.0001 per share Owlet, Inc. 2940 West Maple Loop Drive Suite 203 Lehi UT 84048 This amendment ("Amendment No. 4") amends and supplements the Schedule 13D originally filed with the SEC on July 29, 2021, Amendment No. 1 filed with the SEC on February 23, 2023, Amendment No. 2 filed on March 1, 2024, and Amendment No. 3 filed with the SEC on August 22, 2024 (collectively, the "Schedule"), and relates to the Common Stock of Owlet, Inc., a Delaware corporation (the "Issuer"). All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule. Other than as set forth below, all Items in the Schedule 13D are materially unchanged. Item 3 is amended and supplemented to add the following: The information in Item 5(c) of this Amendment No. 4 is incorporated by reference herein. Item 4(a) is amended and supplemented to add the following: The information in Item 5(c) of this Amendment No. 4 is incorporated by reference herein. Trilogy Equity Partners, LLC, a Delaware limited liability company (the "Reporting Person") beneficially owns 2,022,178 shares of Common Stock, or approximately 8.7% of the outstanding Common Stock. This percentage is based on the assumption of (i) 22,788,420 shares of Common Stock outstanding as of October 10, 2025, as reported in the Issuer's Current Report on Form 8-K filed with the SEC on October 14, 2025, (ii) 158,309 shares of Common Stock issuable upon the conversion of Series A Convertible Preferred Stock purchased by the Reporting Person pursuant to the 2023 Investment Agreement, and (iii) 296,401 shares of Common Stock issuable upon the conversion of Series B Convertible Preferred Stock purchased by the Reporting Person pursuant to the 2024 Investment Agreement. The Reporting Person, has the sole power to vote and dispose, or direct the voting or disposition, of all shares of the Common Stock held by it. On October 10, 2025, the Reporting Person exchanged (i) 712,915 warrants to purchase shares of Common Stock that were initially issued in February 2023 in connection with the Issuer's issuance and sale of Series A Convertible Preferred Stock and (ii) 444,601 warrants to purchase shares of Common Stock that were initially issued in February 2024 in connection with the Issuer's issuance and sale of Series B Convertible Preferred Stock for shares of Common Stock at a ratio of 0.61 and 0.56 shares per warrant, respectively. Not applicable. Not applicable. Item 6 is amended and supplemented to add the following: The information in Item 5(c) of this Amendment No. 4 is incorporated by reference herein. Exhibit A - Exchange Agreement, dated as of August 7, 2025, by and among Owlet, Inc. and the holders thereto (incorporated by reference to Exhibit 10.1 of the Issuer's Current Report on Form 8-K, filed with the SEC on August 13, 2025). Trilogy Equity Partners, LLC /s/ Amy McCullough Amy McCullough, President, Managing Director 10/15/2025