Hydrow, a connected rower manufacturer, is said to be in talks to go public via a merger with the special purpose acquisition company (SPAC) Sandbridge X2 Corp. The deal could value the combined entity at more than USD 1 billion, though the terms have not yet been finalized.
Reportedly, the SPAC is also in talks with investors to raise private investment in public equity (PIPE).
Neither Hydrow nor Sandbridge representatives have released a statement on the possible merger.
Hydrow manufactures a connected rower designed to simulate the experience of rowing on water while indoors and at home. The device is equipped with a screen that plays outdoor rowing workouts for users to perform. In addition to the rower, users can access live classes and a library of on-demand videos (both rowing and other exercises such as yoga) for a subscription fee.
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