Oura Launches IPO Roadshow Targeting $2.2 Billion, Nasdaq Ticker "OURA"

Oura launched its initial public offering on Monday, aiming to raise up to $2.2 billion by selling 50 million shares at $40 to $44 apiece. The Finland-founded smart ring maker applied to list on the Nasdaq Global Select Market under the ticker "OURA," with trading expected to begin next week. Of the 50 million shares, Oura is offering 13.5 million, while existing stockholders are selling 36.5 million. The company will not receive proceeds from stockholder sales. The offering targets a fully diluted valuation of $15.62 billion, according to Reuters. Selling stockholders intend to grant underwriters a 30-day option for up to 7.5 million additional shares. Eli Lilly has signaled interest in buying up to $100 million in shares, and Dragoneer up to $300 million. Goldman Sachs, Morgan Stanley and J.P. Morgan are lead underwriters. Oura sold 3.6 million rings in the year through June 30, with revenue of $1.21 billion for the nine months ended on that date, up roughly 74% year over year. The IPO proceeds amid market caution tied to AI trade turbulence and climbing bond yields.