Owlet Inc
For the period ended Mar 31, 2024. Filed May 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 13, 2024
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Item 5. Other Information
(a) We are reporting the following information in lieu of reporting on a Current Report on Form 8-K under Item 1.01 - Entry into a Material Definitive Agreement.
On May 10, 2024, we entered into a waiver (the “Waiver”) to the Third Amended and Restated Loan and Security Agreement dated as of November 23, 2022, as amended, with Silicon Valley Bank, now a division of First Citizens Bank and Trust Company, to, among other things, waive our violation of our minimum adjusted EBITDA requirement for the three months ended December 31, 2023.
The foregoing description of the Waiver does not purport to be complete and is subject to and qualified in its entirety by reference to the Waiver, which is attached hereto as Exhibit 10.3 to this Report and is incorporated herein by reference.
(b) None.
(c) During the three months ended March 31, 2024, no directors or "officers" (as defined in Rule 16a-1(f) under the Exchange Act) of the Company adopted, modified orterminated "Rule 10b5-1 trading arrangements" and/or "non-Rule 10b5-1 trading arrangements" (each as defined in Item 408 of Regulation S-K).
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