Oura seeks $15.62 billion valuation in Nasdaq IPO roadshow

Smart ring manufacturer Oura has launched its investor roadshow, seeking a fully diluted valuation of $15.62 billion. The company and existing shareholders are offering 50 million shares with an indicated price range of $40 to $44, which could raise up to $2.2 billion. The IPO, which will list on the Nasdaq under the ticker OURA, is being managed by J.P. Morgan, Morgan Stanley, and Goldman Sachs. Major interest has already been signaled by Dragoneer and Eli Lilly.

Oura reported revenue of $1.21 billion for the nine months ending June 30, representing a 74% year-over-year increase. This growth is a key factor as the company seeks a valuation higher than its previous $11 billion private valuation.

In a related development, the cryptocurrency platform Bybit has launched the OURAUSDT pre-IPO perpetual contract. This synthetic derivative allows traders to speculate on Oura’s implied valuation with up to 25x leverage without owning actual equity. The contract provides a 24/7 price discovery mechanism for the company’s valuation ahead of its public listing.