Key facts
- Oura is seeking to raise up to $2.2 billion in its US initial public offering.
- The company and some existing investors plan to sell 50 million shares.
- The shares are priced between $40 and $44.
- Eli Lilly has indicated interest in purchasing up to $100 million of shares.
- Dragoneer has indicated interest in buying up to $300 million worth of shares.
- Oura makes a smart ring that tracks heart rate, sleep stages, and physical activity.
Smart ring maker Oura announced on Monday its intention to raise as much as $2.2 billion in its US initial public offering, aiming to capitalize on a recovering market for new listings. The company and some of its existing investors are planning to offer 50 million shares with a price range of $40 to $44 per share. The offering is being led by underwriters including Goldman Sachs, Morgan Stanley, and J.P. Morgan. Following the completion of the deal, Oura is set to list on the Nasdaq under the ticker symbol "OURA."
Weight-loss drugmaker Eli Lilly has expressed interest in acquiring up to $100 million of shares in the offering, while investment firm Dragoneer has indicated a willingness to purchase up to $300 million worth of shares, according to a regulatory filing. Oura's smart ring tracks key health indicators such as heart rate, sleep stages, and physical activity.