Owlet, Inc. — Major Shareholding Notification 2024

Feb 13, 2024

SC 13G/A 1 d779997dsc13ga.htm OWLET, INC. Owlet, Inc.

CUSIP No. 69120X107

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

Owlet, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

69120X107

(CUSIP Number)

December 31, 2023

Date of Event Which Requires Filing of this Statement

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[x] Rule 13d-1(b)

[ ] Rule 13d-1(c)

[ ] Rule 13d-1(d)

• The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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CUSIP No. 69120X107

1	NAME OF REPORTING PERSON: Pacific Investment Management Company LLC I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) (VOLUNTARY)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X]
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF	5	SOLE VOTING POWER 418,477 (1)
SHARES BENEFICIALLY OWNED BY	6	SHARED VOTING POWER 0
EACH REPORTING PERSON	7	SOLE DISPOSITIVE POWER 418,477 (1)
WITH	8	SHARED DISPOSITIVE POWER 0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 418,477 (1)
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.7% (2)
12	TYPE OF REPORTING PERSON IA, OO

(1) Includes 314,694 shares of Common Stock that the Reporting Person has the right to acquire within 60 days upon exercise of warrants at an exercise price of $161.00 per share (the “Warrant Shares”).

(2) Based on (i) 8,568,796 shares of Common Stock outstanding as of November 10, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended September 30, 2023 filed with the Securities and Exchange Commission on November 14, 2023, plus (ii) the Warrant Shares.

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CUSIP No. 69120X107

AMENDMENT NO. 1 TO SCHEDULE 13G

Reference is hereby made to the statement on Schedule 13G filed with the Securities and Exchange Commission by the Reporting Person with respect to the Common Stock of the Issuer on February 11, 2022 (the “Schedule 13G”). Terms defined in the Schedule 13G are used herein as so defined.

The following items of the Schedule 13G are hereby amended and restated as follows:

Item 1(b)	Address of Issuer’s Principal Executive Offices: 3300 North Ashton Boulevard, Suite 300, Lehi, UT 84043
Item 4	Ownership: (a)-(c) The information requested in these paragraphs is incorporated herein by reference to the cover page to this Amendment No. 1 to Schedule 13G. The securities reported in this Amendment No. 1 to Schedule 13G are held by
investment advisory clients or discretionary accounts of which PIMCO is the investment adviser. When an investment management contract (including a sub-advisory agreement) delegates to PIMCO investment
discretion or voting power over the securities held in the investment advisory accounts that are subject to that agreement, PIMCO considers the agreement to grant it sole investment discretion or voting authority, as the case may be, unless the
agreement specifies otherwise. Accordingly, PIMCO reports on Schedule 13G that it has sole investment discretion and voting authority over the securities covered by any such investment management agreement and may be deemed to beneficially own the
securities held by its clients or accounts within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reports the securities
beneficially owned or deemed to be beneficially owned by PIMCO. It does not include securities, if any, beneficially owned by PIMCO’s affiliates, whose ownership of securities is disaggregated from that of PIMCO in accordance with that release.
PIMCO also disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein.
Item 5	Ownership of Five Percent or Less of the Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of
securities, check the following ☒
Item 6	Ownership of More Than Five Percent on Behalf of Another Person: PIMCO’s clients that hold these securities in their investment advisory accounts managed by PIMCO have the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of the securities reported herein. No one client holds more than five percent of such securities.
Item 10	Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than
activities solely in connection with a nomination under § 240.14a-11.

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CUSIP No. 69120X107

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 12, 2024

PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
By:	/s/ Alyssa
Creighton

Name: Alyssa Creighton

Title: Senior Vice President

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