Amazon-backed Owlet Baby Care has agreed to a reverse merger with special purpose acquisition company Sandbridge for a post-deal valuation of $1.39bn.

Owlet Baby Care, a US-based baby monitor producer backed by e-commerce firm Amazon, yesterday agreed to a reverse merger with special purpose acquisition company Sandbridge Acquisition Corp. The transaction includes a $130m investment raised in a private placement from Fidelity, Janus Henderson Group, Neuberger Berman, OrbiMed Advisors and private funds affiliated with Pimco and Wasatch…

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