Oura seeks to raise up to $2.2 billion in Nasdaq IPO

Investing.com -- Oura is seeking to offer 50 million shares priced between $40 and $44 each, the company disclosed in a Monday SEC filing. The smart ring maker plans to offer 13.5 million shares, while existing stockholders will sell 36.5 million shares.

The IPO has attracted interest from major investors. Eli Lilly expressed interest in purchasing up to $100 million worth of shares, while Dragoneer indicated plans to buy up to $300 million, according to an earlier filing.

Goldman Sachs & Co. LLC, Morgan Stanley, and J.P. Morgan are leading the offering. Additional underwriters include Allen & Company LLC, Jefferies, BofA Securities, Barclays, Wells Fargo Securities, Citizens Capital Markets, KeyBanc Capital Markets, Guggenheim Securities, Canaccord Genuity, Needham & Company, Raymond James, Rothschild & Co, Truist Securities, William Blair, and Robinhood.

The company reported revenue of $1.21 billion for the nine-month period ending in June, representing a 74% increase from the previous year. Net losses grew to $924.3 million in the same period, compared to $182.8 million in the prior year.

Oura reported having approximately 5 million paying members, with women accounting for 72% of its customer base.

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