Page 9 - Owlet Baby Care News Today : Breaking News, Live Updates & Top Stories | Vimarsana
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Wearable Healthcare Devices Market to Hold a High Potential for Growth by 2031
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UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION Capitalized terms used but not defined in this Exhibit 99.1 shall have the meanings ascribed to them in the Current Report on Form 8-K to which this Exhibit 99.1 is attached. Introduction The following unaudited pro forma condensed combined financial information presents the combination of the financial information of Sandbridge and Owlet Baby Care Inc. ( Old Owlet ) adjusted to give effect to the Business Combination and related transactions. The following unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X, as amended by the final rule, Release No. 33-10786 Amendments to Financial Disclosure about Acquired and Disposed Businesses.
LEHI Owlet Baby Care, a nursery tech company originally started in a garage in Provo, made its debut on the New York Stock Exchange on Friday after going public through a merger.
Earlier this week, Owlet announced and closed a merger with Sanbridge Acquisition Corporation, a publicly traded special purpose acquisition company, in a deal that values the equity of the combined entity at about $1.4 billion and provides Owlet with $135 million to expand its product line and global reach. The joint company has been renamed Owlet, Inc. and has begun trading under the OWLT ticker symbol.
The stock opened at $8.95 per share. By the end of the day, the stock price had risen to $9.10 with an average of $9.38. On July 26, Owlet leadership will celebrate by ringing the opening bell on the NYSE floor.
A SPAC Risk Exposed?
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