Mountain Ridge Capital closed a new credit facility for Owlet. The new agreement provides for a three-year revolving credit facility of up to $15 million, increasing to up to $20 million on the first anniversary of closing. The transaction was part of a larger recapitalization effort that will afford Owlet greater operational and financial flexibility.
“Mountain Ridge is excited to collaborate with such an innovative company, and we look forward to a fruitful partnership in the years to come,” Jay Fabian, managing director at Mountain Ridge Capital, said.
