(Bloomberg) 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, plus private funds affiliated with Pimco and Wasatch Global Investors.Ken Suslow, the chairman and chief executive officer of the special purpose acquisition company, and Domenico De Sole, the chairman of menswear brand Tom Ford, will join the board after the merger.Founded in 2013, Owlet makes cameras and monitors that help parents track their infant&
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Synopsis
During the year 2020, SPAC or Special Purpose Acquisition Company raised an estimated Rs 6,15,000 crore in the US. Also known as blank cheque companies, SPACs raise money to buy start-ups or invest in existing companies. Here is an explainer about how such companies work.
The year 2020 was extraordinary for IPOs in India, with 14 public issues raising nearly Rs 27,000 crore. It’s a big amount but pales before the estimated Rs 6,15,000 crore ($82 billion) raised by SPACs in the US during that year. A SPAC or a Special Purpose Acquisition Company is created with the sole purpose of raising capital through an IPO in order to deploy the funds in the acquisition or merger with a private company.
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February 15, 2021, 9:09 AM·17 min read
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The spike in electric bike sales was one of the rosier outcomes of the COVID-19 pandemic. Now, new legislation introduced this past week by U.S. representatives Jimmy Panetta (D-CA) and Earl Blumenauer (D-OR) could push sales even higher. The Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act proposes creating a consumer tax credit that would cover 30% of the cost of an electric bicycle up to a $1,500 credit. The proposed bill applies to new electric bicycles that cost less than $8,000 and is fully refundable, allowing lower-income workers
Social Capital Hedosophia Holdings Corp VI (NYSE:IPOF) is the next SPAC (special purpose acquisition company ) vehicle that Chamath Palihapitiya has put in-line to merge with a large private technology company. If you believe in his stock value creation track record, IPOF stock is likely to do well. Source: Shutterstock That is why it now trades for over $15 per share, even though its IPO was at $1o. If the company does not find a target in time, it will have to return its $566 million in cash, according to its latest 10-Q, to shareholders at $1o. Management has until Oct. 14, 2022, according to page 6 of its 10-Q, to find and complete a merger. For all practical purposes, this means that the deal has to be announced no later than 6 months before then, or April 2022. So, IPOF stock has at least a year and three months left before you might see any major news.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Or not. Never mind, investors say, he is more than likely to
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