DLA Piper advises Titan Partners in Owlet, Inc. IPO.
DLA Piper advised Titan Partners Group, a division of American Capital Partners, as underwriter in the public offering of Class A common stock for Owlet, Inc. (Owlet), a pioneer of smart infant monitoring. The public offering, together with a comprehensive debt refinancing, is expected to result in total gross proceeds to Owlet of up to US$46.6 million.
The deal team was led by partner Stephen Alicanti (New York) and included partners Kira Mineroff (Short Hills), Kurtis Weaver (Boston), Christopher Mikson and Bill Bartow (both in Philadelphia); of counsel Christie Lehr (Raleigh); and associates Jordyn Giannone (New York) and Molly McBride (Los Angeles).
DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.
DLA Piper recently advised GigCapital7 in its US$200 million IPO led by partner Jeffrey Selman (San Francisco).
Owlet was established in 2012 by a group of parents. The organization’s mission is to equip parents with timely and relevant information, thereby enhancing their peace of mind and enriching their parenting experience. Through its digital parenting platform, Owlet provides real-time data and insights designed to instill a sense of calm and confidence in parents. The company holds the conviction that every parent is entitled to peace of mind and the chance to feel their best. Additionally, Owlet is committed to ensuring that every child has the opportunity to lead a long, joyful, and healthy life, and is actively engaged in developing products that support this vision.
Kurt Workman holds the position of Chief Executive Officer at Owlet and is a member of its board of directors. He co-founded Owlet in 2012 and served as its Chief Executive Officer until December 2019. Throughout his leadership, Mr. Workman was pivotal in guiding the company from its early stages and played a crucial role in the research and development of several flagship products, such as the renowned Owlet Smart Sock, Owlet Cam, and Owlet Band. Additionally, Mr. Workman has been a board member since the company’s inception and continues to offer essential oversight regarding Owlet’s product offerings, strategic direction, and growth prospects. He pursued his studies in Chemical Engineering at Brigham Young University.