01:59 PM EDT, 08/22/2024 (MT Newswires) -- Owlet (OWLT) shares were about 1.5% lower in recent Thursday trading following the conversion of some of the company's preferred shares into common shares as part of efforts to help it regain compliance with listing rules.

Holders recently opted to convert 15,721 series A preferred shares into about 2.3 million common shares, helping the company regain compliance with $50 million market value requirement, Owlet said in a regulatory filing.

Price: 4.51, Change: -0.07, Percent Change: -1.53