New CFO and Board Member will respectively lead
the financial strategy and bring public company experience in the
Company’s next chapter as it prepares to go public
Owlet Baby Care Inc. (“Owlet” or the “Company”), the
connected nursery ecosystem that delivers data-driven technology to
modern parenting, is excited to announce the addition of two
experienced leaders in finance. Kate Scolnick has been appointed
Chief Financial Officer and Laura Durr joins as a new member of the
Company’s Board of Directors. Both provide valuable operational and
strategic insight in finance and strategy as the Company prepares
to go public.
“Kate and Laura are the perfect, dynamic finance duo Owlet needs
as we enter this next exciting chapter for the Company,” said Kurt
Workman, CEO and founder of Owlet. "I am thrilled to welcome them
to the team. I am grateful for the deep experience and financial
prowess they bring to Owlet. From leading major international
expansion at publicly traded companies, Kate and Laura will bring
valuable experience and insight, and I’m excited to see them help
us grow at Owlet.”
“As we enter this new chapter for the Company, it is necessary
to have a team of established professionals to bolster our finance
activities to further advance the development of the brand,”
Workman continued. “Like others at Owlet, Kate and Laura also bring
the unique experience of being parents themselves and this deep
understanding of parenthood will be invaluable as we continue to
work to reimagine infant health, starting at home.”
Scolnick brings three decades of global financial management
experience to Owlet. She previously served as Vice President of
Finance at enterprise cloud software company Anaplan, which went
public in 2018. At Anaplan, Scolnick oversaw corporate financial
planning and analysis, global sales finance, and global
procurement. She has an extensive tech background from her other
previous positions at Seagate Technology, Intel, McAfee and EMC. In
her new role, Scolnick will lead the Company’s financial strategy
and oversee its finance and accounting functions as it transitions
to being a public company and focuses on continuing its expansion
across Europe and around the world.
Owlet will also be guided in this next chapter by Laura Durr,
who has joined its Board of Directors and will lead the audit
committee. Previously, Durr served as the Executive Vice President
and CFO of Polycom and held various other financial leadership
roles at PricewaterhouseCoopers, Lucent Technologies and
International Network Services. Durr currently serves on the board
of directors at Netgear and Xperi Holding Corporation. Her
expertise will be invaluable to Owlet as the Company transitions to
being a publicly traded entity.
In February 2021, Owlet entered a definitive merger agreement
with Sandbridge Acquisition Corporation (NYSE: SBG) (“Sandbridge”),
a special purpose acquisition company. Upon completion of the
transaction, Ken Suslow and Domenico De Sole, members of the Board
of Directors of Sandbridge, are expected to join Durr, Zane Burke,
Lior Susan, Amy McCollough, Kurt Workman and Michael Abbott on the
Board of Directors of the post-combination company.
For more information about Owlet Baby Care, please visit
https://owletcare.com/.
About Owlet Baby Care
Owlet Baby Care was founded by a team of parents in 2012.
Owlet’s mission is to empower parents with the right information at
the right time, to give them more peace of mind, and help them find
more joy in the journey of parenting. Owlet’s digital parenting
platform aims to give parents real-time data and insights to help
parents feel more calm and confident. Owlet believes that every
parent deserves peace of mind and the opportunity to feel their
well-rested best. Owlet also believes that every child deserves to
live a long, happy, and healthy life, and is working to develop
products to help facilitate that belief.
Additional Information and Where to Find It
In February, Owlet entered into a definitive merger agreement in
February with Sandbridge Acquisition Corporation (NYSE: SBG)
(“Sandbridge”), a special purpose acquisition company. Sandbridge
has filed with the SEC a Registration Statement on Form S-4, which
includes a proxy statement/prospectus, that will be both the proxy
statement to be distributed to holders of Sandbridge’s Class A
common stock in connection with its solicitation of proxies for the
vote by Sandbridge’s stockholders with respect to the business
combination and other matters as may be described in the
registration statement, as well as the prospectus relating to the
offer and sale of certain securities to be issued in the business
combination. After the registration statement is declared
effective, Sandbridge will mail a definitive proxy
statement/prospectus and other relevant documents to its
stockholders. This press release does not contain all the
information that should be considered concerning the proposed
business combination and is not intended to form the basis of any
investment decision or any other decision in respect of the
proposed business combination. Sandbridge’s stockholders and other
interested persons are advised to read, when available, the
preliminary proxy statement/prospectus included in the registration
statement and the amendments thereto and the definitive proxy
statement/prospectus and other documents filed in connection with
the proposed business combination, as these materials will contain
important information about the Company, Sandbridge and the
proposed business combination. When available, the definitive proxy
statement/prospectus and other relevant materials for the proposed
business combination will be mailed to stockholders of Sandbridge
as of a record date to be established for voting on the proposed
business combination. Stockholders of Sandbridge will also be able
to obtain copies of the preliminary proxy statement, the definitive
proxy statement and other documents filed with the SEC, without
charge, once available, at the SEC’s website at www.sec.gov, or by
directing a written request to: Sandbridge Acquisition Corp., 1999
Avenue of the Stars, Suite 2088, Los Angeles, California 90067.
Participants in the Solicitation
Sandbridge and its directors and executive officers may be
deemed participants in the solicitation of proxies from
Sandbridge’s stockholders with respect to the proposed business
combination. The names of those directors and executive officers
and information regarding the interests of such participants is
contained in the proxy statement/prospectus for the proposed
business combination.
Owlet and its directors and executive officers may also be
deemed to be participants in the solicitation of proxies from the
stockholders of Sandbridge in connection with the proposed business
combination. A list of the names of such directors and executive
officers and information regarding their interests in the proposed
business combination is included in the proxy statement/prospectus
for the proposed business combination.
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements. Forward-looking statements generally
relate to future events or Sandbridge’s or Owlet’s future financial
or operating performance. For example, statements regarding the
expected future operating and financial performance and market
opportunities of Owlet are forward-looking statements. In some
cases, you can identify forward-looking statements by terminology
such as “may”, “should”, “expect”, “intend”, “will”, “estimate”,
“anticipate”, “believe”, “predict”, “potential” or “continue”, or
the negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Sandbridge and its
management, and Owlet and its management, as the case may be, are
inherently uncertain. Factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: the evolution of the markets in which Owlet competes;
the ability of Owlet to implement its strategic initiatives and
continue to innovate its existing products; the ability of Owlet to
defend its intellectual property and satisfy regulatory
requirements; the impact of the COVID 19 pandemic on Owlet’s
business; the limited operating history of Owlet; and other risks
and uncertainties set forth the in the proxy statement/prospectus
for the proposed business combination and the related registration
statement on Form S-4, including those set forth under “Risk
Factors” therein, and other documents to be filed with the SEC by
Sandbridge.
Nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Neither Sandbridge
nor Owlet undertakes any duty to update these forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210414005252/en/
Sandbridge Acquisition Corporation Rebecca Campbell Konnect
Agency rcampbell@konnectagency.com (213) 225-4415
Media Relations
Cammy Duong Westwicke, an ICR company cammy.duong@westwicke.com
(203) 682-8380
Jane Putnam jputnam@owletcare.com
Investor Relations
Mike Cavanaugh Westwicke, an ICR company
mike.cavanaugh@westwicke.com (339) 970-2846
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