Oura Seeks Up to $2.2 Billion in US IPO at $14.1 Billion Valuation

Oura Inc., the Finnish maker of health-tracking smart rings, and certain shareholders plan to raise as much as $2.2 billion in an initial public offering, the company said in a Sept. 21 SEC filing. The company will offer 13.5 million shares and shareholders 36.5 million, priced at $40 to $44 each. At the top of the range, Oura would carry a market value of $14.1 billion, up from roughly $11 billion after a $875 million Series E round. Shares are expected to trade on the Nasdaq Global Select Market under the symbol OURA. Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co. and Jefferies are leading the offering. For the nine months ended June 30, Oura reported a net loss of $924.3 million on revenue of $1.21 billion, versus a $182.8 million loss on $697.6 million a year earlier. The company sold about 3.6 million rings in the past year.