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.