Oura postpones its $2.2bn IPO, citing market uncertainty
Oura has postponed its Nasdaq IPO, citing “uncertainty in the IPO market”. The Finnish-founded smart ring maker said so in a statement on Tuesday, a week after it launched the offering.
It said it is postponing “despite strong demand”, and gave no new date. Oura had planned to sell 50 million shares at $40 to $44 each, raising up to $2.2bn. Existing shareholders were selling 36.5 million of them, as we reported when Oura launched the offering.
“We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment. In the meantime, we will execute against the opportunities ahead,” chief executive Tom Hale said.
What Oura says about its business
Oura said it is profitable and that its business has strengthened since it began the IPO process. The Oura Ring 5 has taken its paid members to 5.7 million, the...
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