Smart Ring Maker Oura Gears Up for US IPO

Smart ring maker Oura is preparing for its initial public offering in the United States, aiming for a fully diluted valuation of $15.62 billion. The company and its existing investors intend to raise up to $2.2 billion by offering 50 million shares, with an indicated price range of $40 to $44 per share. This move comes as the fall listing window shows signs of activity following a volatile start to the market.

Oura's offering will test investor interest in high-growth consumer technology firms amid market jitters from AI trade concerns, rising bond yields, and Federal Reserve rate hikes. The company has been a key player in popularizing smart rings, fueled by a growing demand for personalized wellness and health insights. Its smart rings track vital health indicators like heart rate, sleep patterns, and physical activity.

In the nine months concluding June 30, Oura reported a substantial revenue increase of roughly 74% year-over-year, totaling $1.21 billion. This follows a significant funding round in October last year, where the company was valued at approximately $11 billion after raising over $900 million. Oura plans to list on the Nasdaq under the ticker symbol "OURA" after the IPO is finalized.