Ropes & Gray represented Sandbridge Acquisition Corporation, a special purpose acquisition company co-sponsored by affiliates of Sandbridge Capital and PIMCO private funds, in completing its business combination with Owlet Baby Care Inc., a company building a connected and accessible nursery ecosystem that brings technology and vital data to modern parenting. The business combination and concurrent private placement, which were approved by Sandbridge’s stockholders, value Owlet at approximately $1.074 billion and provide over $135 million to accelerate Owlet’s expansive product pipeline, product penetration and global expansion.
Following the transaction, the company was renamed Owlet, Inc., and its Class A common stock and warrants began trading on the New York Stock Exchange under the symbols “OWLT” and “OWLT WS,” respectively, on July 16, 2021.
The team advising Sandbridge was led by mergers & acquisitions and capital markets partners Emily Oldshue and Christopher Comeau and associates Kasey McNamara and Sarah Smith (both of Boston) and included employment & benefits partner Renata Ferrari (Boston), life sciences regulatory & compliance partner Kellie Combs (Washington, D.C.), litigation & enforcement partners Peter Welsh (Boston) and Rocky Tsai (San Francisco), tax partner Elaine Murphy and counsel Michael Mendelevich (both of Boston), data, privacy & cybersecurity partner Rohan Massey (London), IP transactions counsel Erica Han (Boston), data, privacy & cybersecurity counsel Clare Sellars (London), litigation & enforcement counsel Brendan Hanifin (Chicago) and Deidre Johnson (Boston) and private equity counsel James Kaplan (Boston).
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find our more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.