Oura Takes First Step Toward Public Offering
Krissy Vann | Host, All Things Fitness and Wellness
Oura has taken a formal step toward becoming a publicly traded company.
The smart ring maker has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock.
The number of shares Oura plans to offer and the expected price range have not yet been determined.
The company has applied to list its shares on the Nasdaq Global Select Market under the ticker symbol “OURA.” The filing does not mean the IPO has been completed, and the securities cannot be sold until the registration statement becomes effective.
The move represents a notable development for the wearable technology market, where Oura has built its business around a smart ring that tracks health metrics including sleep, activity and recovery.
Oura's planned public offering comes as wearable technology increasingly extends beyond traditional fitness tracking into broader health monitoring and personalized health data. Smart rings have also become a more established segment of the wearables market as larger technology companies have entered the category.
A large group of financial institutions has been assembled for the proposed offering. Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company and Jefferies will serve as joint lead book-running managers.
BofA Securities, Barclays and Wells Fargo Securities will serve as joint book-running managers, with additional banks and financial institutions participating in other underwriting roles. Robinhood Securities will serve as a co-manager.
Oura has not yet disclosed when it expects the offering to take place.
For the fitness and wellness industry, a public listing would put another major consumer health technology company into the public markets and provide greater visibility into the economics of a business built around both wearable hardware and ongoing digital health engagement.
The next details to watch will include the proposed valuation, share price range and offering size as Oura moves through the IPO process.
