Baby Monitor Maker Owlet to Go Public Via Sandbridge SPAC (2)

Baby monitor maker Owlet Baby Care Inc. said it was going public through a merger with a blank-check company backed by private equity firm Sandbridge Capital.

Lehi, Utah-based Owlet and Sandbridge Acquisition Corp. will have a combined value of $1.1 billion including debt after the deal is completed, according to a joint statement Tuesday that confirmed an earlier Bloomberg News report.

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, Neuberger Berman, OrbiMed Advisors, ...