Smart ring maker Oura postpones initial public offering due to market ‘uncertainty’
Researchers say the IPO market was off to a solid start but tailed off in the third quarter.
TL;DR
- Oura, a smart ring maker, has postponed its planned initial public offering (IPO).
- The company cited market "uncertainty" as the reason for the delay, despite strong demand.
- The IPO market has experienced a slowdown, influenced by concerns about AI spending, interest rate hikes, and increased bond yields.
- Oura's products monitor customer health, including sleep patterns and fitness activity.
- The company projected revenue growth of 90% for the fiscal year ending Wednesday.
- Oura planned to sell 50 million shares at $40-$44 each, valuing the company at $13.5 billion at the midpoint.