The IPO Buzz: Oura (OURA Proposed) Sets Terms for $2.1 Billion IPO

Oura (OURA Proposed), known for its health-focused smart rings, unveiled its $2.1 billion IPO early today and launched the deal to price next week. San Francisco-based Oura’s IPO consists of 50 million shares at a  price range of $40.00 to $44.00 to raise $2.1 billion, if priced at the $42.00 mid-point of its range. The company is offering 13.5 million shares and the selling stockholders are offering 36.5 million shares, the prospectus said. Oura will not receive any proceeds from the sale of the selling stockholders’ shares.

Oura’s IPO is set to price next week. Please see the IPO Calendar for the pricing date. This is a NASDAQ listing.

Goldman Sachs, Morgan Stanley and J.P. Morgan are leading the joint book-running team.

Allen & Company, Jefferies, BofA  Securities, Barclays and Wells Fargo Securities are also joint book-runners, according to the prospectus. Citizens Capital Markets, KeyBanc Capital Markets and Guggenheim Securities are on the joint book-running team as well

At pricing, Oura would have a market cap of about $13.48 billion, if priced at the $42.00 mid-point of its range. 

“Our platform is anchored by Oura Ring, the world’s smallest smart ring. It’s an always-on health intelligence platform on your finger,” the prospectus said. “Our mission is to empower people to live healthier, longer.”

The wearable health  tech company, founded in 2013 in Finland, “began with a simple but ambitious idea: that we could help people understand their bodies well enough to improve and change the trajectory of their health, not just track it.”

In the prospectus, Oura said: “In the third quarter of fiscal 2026, Paid Members wore Oura Ring for a median of approximately 23 hours per day, enabling continuous data capture that can help our members understand their bodies, recognize patterns early, and act with greater intention and precision.”

Oura is profitable: Net income of $59 million on revenue of $1.43 billion for the 12 months that ended on June 30, 2026, according to financial statements in the prospectus.

(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com  website.)

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