LOS ANGELES, CA, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Kessler Topaz Meltzer & Check, LLP and Pomerantz LLP announce proposed class action settlements on behalf of owners of Sandbridge Acquisition Corporation Common Stock and/or purchasers of Owlet, Inc. Common Stock and/or Warrants (NYSE: SBG) (NYSE: SBG.WS) (NYSE: SBG.U) (NYSE: OWLT) (OTC: OWLTW):

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENTS; (II) SETTLEMENT HEARING; AND (III) MOTIONS FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES

TO:   

Section 10(b) Settlement Class: All persons and entities who purchased or otherwise acquired securities of Owlet, Inc. (i.e., common stock and/or warrants) between March 31, 2021 and October 4, 2021, both dates inclusive, and who were damaged thereby.

Section 14(a) Settlement Class: All persons and entities that held Sandbridge Acquisition Corporation (“Sandbridge”) common stock as of June 1, 2021 and were eligible to vote at Sandbridge’s special meeting on July 14, 2021.

Together, the Section 10(b) Settlement Class and the Section 14(a) Settlement Class are referred to herein as the “Settlement Classes.”

PLEASE READ THIS NOTICE CAREFULLY; YOUR RIGHTS WILL BE AFFECTED BY A PENDING CLASS ACTION LAWSUIT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and Orders of the United States District Court for the Central District of California that the above-captioned action (“Action”) has been provisionally certified as a class action for the purposes of settlement, except for certain persons and entities who are excluded from the Settlement Classes by definition as set forth in the Stipulation and Agreement of Settlement for the Section 10(b) Class dated January 31, 2025 (“10(b) Class Stipulation”) and the Stipulation of Settlement for the Section 14(a) Class dated January 31, 2025 (“14(a) Class Stipulation”) and the detailed notices for each settlement (“Notices”). The 10(b) Class Stipulation, the 14(a) Class Stipulation, and the Notices can be viewed on the website www.strategicclaims.net/owlet.

YOU ARE ALSO NOTIFIED that the parties to the Action have reached proposed settlements (“Settlements”) in the amounts of $3.5 million in cash for the Section 10(b) Settlement Class (“10(b) Class Settlement”) and $1.75 million in cash for the Section 14(a) Settlement Class (“14(a) Class Settlement”). If approved, the Settlements will resolve all claims in the Action.

A hearing will be held in the Action on February 6, 2026 at 1:30 p.m. before the Honorable Fernando L. Aenlle-Rocha, United States District Court Judge for the Central District of California, either in person at the First Street Courthouse, 350 W. 1st Street, Los Angeles, California 90012 (“Court”), in Courtroom 6B, 6^th Floor, or by telephone or videoconference (at the discretion of the Court), to determine whether: (i) for purposes of settlement, the Action should be certified as a class action on behalf of the Settlement Classes, Lead Plaintiff Dr. Thomas E. Tweito and Lead Counsel Kessler Topaz Meltzer & Check, LLP should be appointed as class representative and class counsel, respectively, for the 10(b) Settlement Class, and Lead Plaintiff Drew Conant and Plaintiff Eric Lee, and Lead Counsel Pomerantz LLP should be appointed as class representatives and class counsel, respectively, for the 14(a) Settlement Class; (ii) the Settlements should be approved as fair, reasonable, and adequate; (iii) the Action should be dismissed with prejudice against Defendants, and the releases specified and described in the 10(b) Class Stipulation and the 14(a) Class Stipulation (and in the Notices described below) should be entered; (iv) the proposed Plans of Allocation for the net proceeds of the Settlements should be approved as fair and reasonable; and (v) counsels’ applications for awards of attorneys’ fees and expenses and compensatory awards to Plaintiffs, should be approved. Any updates regarding the hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the website for the Settlements, www.strategicclaims.net/owlet.

If you are a member of one or both Settlement Classes, your rights will be affected by the pending Action and the Settlements, and you may be entitled to share in the settlement proceeds. This notice provides only a summary of the information contained in the detailed Notice for each Settlement. You may obtain copies of both Notices, along with the Claim Form, on the website for the Settlements, www.strategicclaims.net/owlet. You may also obtain copies of the detailed Notices and Claim Form by contacting the Claims Administrator at Owlet Securities Litigation Settlements, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063; 1-866-274-4004; info@strategicclaims.net.

If you are a member of one or both Settlement Classes, in order to be eligible to receive a payment under the proposed Settlements, you must submit a Claim Form postmarked (if mailed), or online at www.strategicclaims.net/owlet, no later than December 12, 2025 for the 14(a) Class Settlement or no later than January 17, 2026 for the 10(b) Class Settlement, in accordance with the instructions set forth in the Claim Form. If you submit a Claim Form, your eligibility to receive payment will be assessed in connection with both Settlements. If you are a member of one or both Settlement Classes and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlements, but you will nevertheless be bound by any releases, judgments, or orders entered by the Court in the Action.

If you are a member of the 10(b) Settlement Class, the 14(a) Settlement Class, or both Settlement Classes and wish to exclude yourself from one or both Settlement Classes, you must submit a request for exclusion such that it is received no later than January 16, 2026, in accordance with the instructions set forth in the detailed Notices. If you properly exclude yourself from one or both Settlement Classes, you will not be bound by any releases, judgments, or orders entered by the Court in the Action, and you will not be eligible to share in the net proceeds of the Settlements. Excluding yourself is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlements.

Any objections to the proposed Settlements, the proposed Plans of Allocation (as contained in the Notices), and/or counsels’ motions for attorneys’ fees and expenses, must be filed with the Court and delivered to the respective counsel at the addresses and in the forms specified in the detailed Notices such that they are received no later than January 16, 2026, in accordance with the instructions set forth in the detailed Notices.

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, DEFENDANTS, OR THEIR COUNSEL REGARDING THIS NOTICE. All questions about this notice, the Settlements, or your eligibility to participate in the Settlements should be directed to the counsel set forth below or the Claims Administrator.

Requests for the detailed Notices and Claim Form should be made to the Claims Administrator:

Owlet Securities Litigation Settlements
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson Street, Suite 205
Media, PA 19063
1-866-274-4004
info@strategicclaims.net 
www.strategicclaims.net/owlet

Inquiries, other than requests for the detailed Notices and Claim Form, may be made to counsel as follows:

DATED: OCTOBER 27, 2025                
               
BY ORDERS OF THE COURT
United States District Court
Central District of California