Owlet, Inc.

OWLT

Earlier today, Owlet Inc. announced that it had received a warning letter from the FDA asserting that Owlet’s marketing of its Smart Sock product in the US renders the product a medical device requiring premarket clearance or approval from the FDA. Owlet has not obtained such clearance or approval.

Owlet Inc went public via a deSPAC transaction with blank check company Sandbridge Acquisition Corporation in July 2021.

On this news, shares of Owlet stock have fallen over 20%.

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