Oura, the smart ring maker, postponed its IPO on September 29, just days after launching its investor roadshow. The company aimed to raise approximately $2.1 billion by selling 50 million shares priced between $40 and $44, which would have valued the firm at up to $15.6 billion. However, only 27% of the shares came from new issuances by the company, while 73% were secondary sales by existing shareholders, raising questions about the true nature of the offering. Investors also questioned the high valuation of a company whose core product remains an electronic ring, despite Oura’s efforts to position itself as an AI-enabled digital health platform.
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