Private Placement Announcement Sends Micro Cap Higher Premarket

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, February 21, 2023

A Utah-based healthcare company is turning heads on Tuesday morning after the company announced a $30 million private placement financing round.

Seeing that this amount is almost equal to the company’s overall market cap, it’s no wonder that shares of Owlet Inc. (NYSE:OWLT) are shaping up higher for today’s opening bell. At the time of writing, share of this micro cap are bid up at $0.457/share (+34.10% implied open for sellers). It should be an exciting session for this stock!

Owlet Inc is engaged in providing a digital parenting platform that aims to give parents real-time data and insights to help parents feel more calm and confident. Its diversified portfolio of products includes Owlet Smart Sock, the first baby monitor to track an infant's oxygen levels, heart rate, and sleep trends; the Owlet Cam, which turns any smartphone into a baby monitor with high-definition clarity; the Owlet Monitor Duo, which offers the intelligence of the Owlet Smart Sock paired with the Owlet Cam; and Owlet Dream Lab, an interactive online program designed to be a parent's guide to building healthy sleep habits for their infants.

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