Owlet drops as board approves 1-for-14 reverse stock split

Owlet

27/06/2023 13:49

** Shares of maker of baby sleep monitor Owlet  OWLT.N  down
~8% at 33 cents premarket
    ** Co says its board has approved a 1-for-14 reverse stock
split of its Class A common stock
    ** Reverse stock split is expected to be effective after
market close on July 7 - OWLT
    ** Reverse split to reduce the number of co's shares of
Class A common stock to 8.4 mln from about 118.1 mln issued and
outstanding shares
    ** Up to Monday's close, stock had fallen 35.3% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))