Oura's Upcoming IPO Expected to Benefit Existing Shareholders
Smart ring maker Oura is preparing for an initial public offering (IPO) that could raise up to $2.2 billion, but the majority of proceeds will go to existing shareholders rather than being used as a fundraising event by the company itself. According to its updated IPO filing, most shares—36.5 million out of 50 million total—are being sold by current investors at an estimated price range of $40–$44 per share. The largest portion will go to Forerunner Ventures, Oura’s second-largest shareholder, which plans to sell its entire stake for approximately $1.2 billion if shares list at the midpoint of $42. Meanwhile, Oura expects net proceeds of around $532.6 million and intends to use nearly all of it—$526.4 million—to settle tax obligations related to employee share grants. Only about $6.2 million will remain for general corporate purposes. Oura is growing rapidly, with membership revenue more than doubling in the latest period to $240.5 million and expected to reach 5.7 million paying members by year-end. The company’s valuation has surged from around $11 billion as of October 2025 to a potential market cap of up to $14.1 billion if it lists at the top end of its price range.
Topics: funding IPO shareholder exit