Oura postpones marketed Nasdaq IPO, citing uncertainty

Oura postponed its planned Nasdaq initial public offering on September 29, citing uncertainty in the IPO market. The smart-ring maker said demand remained strong but set no new pricing or trading date for the offering, which it had already marketed.

The company had proposed selling 50 million shares at $40 to $44 each. That range implied $2.0 billion to $2.2 billion in gross share-sale proceeds before underwriting discounts, commissions and expenses.

Oura’s amended preliminary prospectus said the company planned to sell 13.5 million shares, while existing stockholders planned to sell 36.5 million. Oura would not receive proceeds from the shares sold by those stockholders. The filing identified OURA as the proposed Nasdaq ticker.

Oura had formally launched the offering before postponing it. The company said its Form S-1 registration statement had not yet been declared effective. It did not disclose a revised share count, price range or valuation target.