Investment Company, Inc., an investment adviser based in Delaware, reports beneficial ownership of 1,748,251 Owlet Class A common shares, representing 6.3% of the class. The firm has sole voting and dispositive power over these shares through four affiliated investment funds and certifies the holdings are in the ordinary course of business, not intended to change or influence control of Owlet, Inc..
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Owlet, Inc.
(Name of Issuer)
Class A Common Stock, $0.0001 Par Value
(Title of Class of Securities)
69120X206
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
69120X206
1
Names of Reporting Persons
AWM Investment Company, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,748,251.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,748,251.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,748,251.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.3 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: AWM Investment Company, Inc., a Delaware corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P. (CAYMAN), Special Situations Fund III QP, L.P. (SSFQP), Special Situations Private Equity Fund, L.P. (SSPE) and Special Situations Life Sciences Fund, L.P. (SSLS). As the investment adviser to the Funds, AWM holds sole voting and investment power over 274,251 Common Shares held by CAYMAN, 984,000 Common Shares held by SSFQP, 210,000 Common Shares held by SSPE and 280,000 Shares held by SSLS.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Owlet, Inc.
(b)
Address of issuer's principal executive offices:
2940 WEST MAPLE LOOP DRIVE, SUITE 203, LEHI, UTAH, 84048
Item 2.
(a)
Name of person filing:
The person filing this report is AWM Investment Company, Inc., a Delaware corporation (AWM), which is the investment adviser to Special Situations Cayman Fund, L.P., a Cayman Islands Limited Partnership (CAYMAN), Special Situations Fund III QP, L.P., a Delaware limited partnership (SSFQP), Special Situations Private Equity Fund, L.P., a Delaware limited partnership (SSPE) and Special Situations Life Sciences Fund, L.P., a Delaware limited partnership (SSLS). The principal business of each Fund is to invest in equity and equity-related securities and other securities of any kind or nature.
David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are members of: SSCayman, L.L.C., a Delaware limited liability company (SSCAY), the general partner of CAYMAN; MGP Advisers Limited Partnership, a Delaware limited partnership (MGP), the general partner of SSFQP; MG Advisers, L.L.C., a New York limited liability company (MG), the general partner of SSPE and LS Advisers, L.L.C., a New York limited liability company (LS). Greenhouse and Stettner are also controlling principals of AWM.
(b)
Address or principal business office or, if none, residence:
527 Madison Avenue, Suite 2600
New York, NY 10022
(c)
Citizenship:
AWM is a Delaware Corporation
(d)
Title of class of securities:
Class A Common Stock, $0.0001 Par Value
(e)
CUSIP No.:
69120X206
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
1,748,251
(b)
Percent of class:
6.3 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole voting power over 274,251 Common Shares held by CAYMAN, 984,000 Shares held by SSFQP, 210,000 Shares held by SSPE and 280,000 Shares held by SSLS. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP; MG, the general partner of SSPE; and LS, the general partner of SSLS. Greenhouse and Stettner are also controlling principals of AWM
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole investment power over 274,251 Common Shares held by CAYMAN, 984,000 Shares held by SSFQP, 210,000 Shares held by SSPE and 280,000 Shares held by SSLS. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP; MG, the general partner of SSPE; and LS, the general partner of SSLS. Greenhouse and Stettner are also controlling principals of AWM
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
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.
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.
How many Owlet (OWLT) shares does Investment Company, Inc. report owning?
Investment Company, Inc. reports beneficial ownership of 1,748,251 Owlet Class A common shares. These shares are held across four affiliated funds, with the adviser retaining sole voting and dispositive power over the entire position as disclosed in the Schedule 13G filing.
What percentage of Owlet (OWLT) does Investment Company, Inc. beneficially own?
The filing states that Investment Company, Inc. beneficially owns 6.3% of Owlet’s Class A common stock. This percentage reflects the combined holdings of four investment funds for which the firm serves as investment adviser, giving it sole voting and investment authority.
Which funds associated with Investment Company, Inc. hold Owlet (OWLT) shares?
The disclosed Owlet holdings are spread across four funds: Special Situations Cayman Fund, L.P., Special Situations Fund III QP, L.P., Special Situations Private Equity Fund, L.P., and Special Situations Life Sciences Fund, L.P., all advised by Investment Company, Inc.
Is Investment Company, Inc.’s Owlet (OWLT) stake intended to influence control of the company?
No. The certification explains the securities were acquired and are held in the ordinary course of business and were not acquired or held to change or influence control of Owlet, nor as part of any transaction with that purpose or effect.
What level of voting and dispositive power does Investment Company, Inc. have over its Owlet (OWLT) holdings?
The filing states Investment Company, Inc. has sole voting power and sole dispositive power over all 1,748,251 Owlet shares reported. There is no shared voting or shared dispositive power disclosed for this ownership position.
Who signed the Schedule 13G reporting Investment Company, Inc.’s Owlet (OWLT) position?
The Schedule 13G was signed by Adam Stettner, identified as Executive Vice President. The signature certifies, after reasonable inquiry, that the information regarding the Owlet share ownership and related details is true, complete, and correct as of the stated date.
