Health and fitness ring-maker Oura is seeking to raise up to $2.2 billion through its US initial public offering, pricing 50 million shares between $40 and $44 each.
At the top of its price range, the offering would value Oura at $14.1 billion. The company, known for its smart rings that track health metrics and sleep patterns, is moving forward with its public market debut as demand for wearable health devices continues to grow.
The 50 million shares represent a significant capital raise that will fund the Finnish-born company's operations and growth initiatives. The IPO pricing range signals investor appetite for health-tech companies, though market conditions and final demand will determine whether Oura prices at the upper or lower end of its range.
Oura has built a user base around its subscription-based platform, which combines hardware sales with recurring software revenue. The company competes in the growing wearables market alongside established players and newer entrants focused on personal health monitoring.
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