Oura shelves its $2.2B IPO citing ‘uncertainty’ in the market

In Brief

Smart ringing shaper Oura has postponed its up to $2.2 cardinal IPO indefinitely, citing “uncertainty successful the IPO market.”

The company, which had filed to connection 55 cardinal shares astatine a scope of $40 to $44 each successful the IPO, did not supply further details. The IPO would person valued Oura astatine up to $15 cardinal astatine the mid-point of that range.

“Our ngo is to empower radical to unrecorded healthier, longer, and an IPO is conscionable 1 measurement successful our journey. We purpose to present an bonzer IPO for our employees and investors and we person the luxury of choosing our moment. In the meantime, we volition execute against the opportunities ahead,” the company’s CEO Tom Hale said successful a statement.

Indeed, Oura seems to beryllium doing well. The institution said that its latest product, the Oura Ring 5, has been received good successful the market, and it present has 5.7 cardinal paying members, up from 5 cardinal astatine the extremity of June. The institution expects wide gross to summation 90% successful its 2026 fiscal twelvemonth compared to a twelvemonth earlier, erstwhile it had gross of $907.9 million.

The postponement of the IPO, however, volition hold immoderate of the company’s plans for proceeds that would person been generated from the IPO, arsenic good arsenic those of its shareholders.

Forerunner Ventures, an aboriginal capitalist successful Oura, was slated to merchantability each of its 9.3% involvement successful the IPO, which would person nett it astir $1.20 cardinal (assuming the shares listed astatine the $42 mid-point). Oura, meanwhile, intended to usage astir of the IPO proceeds it to wage disconnected taxation obligations related to worker stock grants that would person vested astatine the listing.

Any shareholders looking for liquidity volition besides person to hold now.

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