Oura Targets $15.62 Billion Valuation for Upcoming US IPO
Oura, a smart ring maker known for tracking health metrics like heart rate and sleep patterns, is preparing to test investor appetite with its upcoming U.S. initial public offering (IPO). The company aims for a fully diluted valuation of $15.62 billion by selling up to 50 million shares at prices between $40 and $44 per share, potentially raising as much as $2.2 billion. The IPO comes amid market uncertainty driven by concerns over the AI trade, rising bond yields, and Federal Reserve rate hikes. Analysts view Oura's offering as a key indicator of investor sentiment in the fall IPO season after sluggish activity so far this year. Major investors like Eli Lilly and Dragoneer have expressed interest in purchasing up to $100 million and $300 million worth of shares respectively. Oura reported revenue growth of approximately 74% year-over-year, reaching $1.21 billion for the nine months ending June 30. Goldman Sachs, Morgan Stanley, and J.P. Morgan are leading underwriters for the offering, with Oura expected to list on Nasdaq under the ticker symbol 'OURA'.
Topics: consumer technology health-tech IPO valuation