Story
Oura IPO Sees Strong Demand, Orders Outpace Shares Four-to-One
Summary
Smart ring maker Oura Inc. is seeing robust investor interest in its initial public offering, with orders reportedly reaching four times the number of available shares as it seeks to raise up to $2.2 billion.
Investor demand for the initial public offering of smart ring maker Oura Inc. has significantly outpaced the supply of shares, with orders reaching approximately four times the amount available, according to a Bloomberg report on Friday. The health technology company is aiming to raise up to $2.2 billion in its public market debut.
Banks underwriting the IPO are expected to stop accepting investor orders on Monday afternoon, sources familiar with the matter indicated.
Offering Details
According to a filing with the U.S. Securities and Exchange Commission (SEC), Oura and its selling shareholders are offering a total of 50 million shares at a price range of $40 to $44 per share. The offering is structured as follows:
- The company itself is selling 13.5 million new shares.
- Existing shareholders, including institutional investors like Forerunner Ventures and Lifeline Ventures, are selling the remaining 36.5 million shares.
AdAt the top end of the proposed price range, Oura would command a market capitalization of $14.1 billion based on outstanding shares. The company's fully diluted valuation, which includes stock options and restricted stock units (RSUs), would be approximately $15 billion.
Market Context and Timeline
The IPO is scheduled to be priced on September 29, according to investor roadshow materials. Oura plans to list on the Nasdaq Global Select Market under the ticker symbol OURA. The deal could be the first U.S. IPO to raise over $1 billion since Jersey Mike’s Subs Inc. listed in July, marking a significant event after a relatively quiet September for the listings market.
The lead underwriters for the offering include Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., Allen & Co., and Jefferies Financial Group Inc. Spokespeople for Oura and Goldman Sachs declined to comment on the matter, as discussions are ongoing and final details of the listing could change.
Read next
More on Stocks
European Telecoms Face AI-Driven Price Pressure, Bank of America Warns
Bank of America analysts report that while AI agents could increase customer churn for European telecom operators by simplifying price comparisons, the technology also offers powerful tools for sales and personalized customer retention.
ShinyHunters Hackers Renew Attacks on Oracle PeopleSoft Flaw, Google's Mandiant Reports
Google's cybersecurity unit, Mandiant, reports that the hacking group ShinyHunters has resumed and adapted its exploitation of a known vulnerability in Oracle's PeopleSoft enterprise software, targeting organizations that failed to apply a full security patch.
Manulife Stock Climbs, Supported by Cross-Border Investor Optimism
Shares of Manulife Financial gained on Tuesday, buoyed by a strong performance in U.S. markets rather than any specific company news. The stock's move is also supported by a bullish technical posture and positive analyst ratings.
Escondida Union Rejects BHP's Bid to Pause Talks After Fatal Accident
A union at the world's largest copper mine, Escondida, has rejected a request from operator BHP to postpone contract negotiations following a fatal accident earlier this week. The union accused the company of using the tragedy to delay the collective bargaining process.