THE WHAT? Smart ring maker Oura and existing shareholders are seeking to raise as much as US$2.2 billion through a US initial public offering, valuing the health technology company at up to approximately US$15 billion on a fully diluted basis.
THE DETAILS Oura plans to market 50 million shares at US$40 to US$44 each, comprising 13.5 million shares sold by the company and 36.5 million offered by existing shareholders. The company sold approximately 3.6 million smart rings over the past year and had more than five million paid members for its subscription service as of June 30. Revenue reached US$1.21 billion in the nine months to June 30, up from US$697.6 million a year earlier, while its net loss attributable to shareholders widened to US$924.3 million, partly reflecting a deemed dividend linked to preferred stock. Oura expects to list on Nasdaq under the ticker OURA.
THE WHY? The IPO highlights growing investor interest in the convergence of wearable technology, personalised health and wellness, while Oura’s combination of hardware, subscription revenue, AI-powered insights and data-driven health services demonstrates the increasing commercial scale of technology-led wellness platforms.
Source: Bloomberg
