Owlet Baby Care to go public via merger with Sandbridge-backed SPAC: Bloomberg

Lehi, Utah-based Owlet Baby Care Inc, a baby monitor maker, is going public via a merger with a blank-check company backed by private equity firm Sandbridge Capital, reported Bloomberg.

Lehi, Utah-based Owlet Baby Care Inc, a baby monitor maker, is going public via a merger with a blank-check company backed by private equity firm Sandbridge Capital, reported Bloomberg. The news outlet noted that the combination of Owlet and Sandbridge Acquisition Corp will have a value of $1.1 billion. The combined company also raised $130 million in a private placement to support the transaction. Investors in the private placement include Fidelity Management & Research Co., Janus Henderson Group Plc and Neuberger Berman.

Source: Bloomberg