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Oura suspended its initial public offering, which could have raised up to $2.2 billion, despite growth in its paid membership and projected revenue. The decision delays plans by the company and certain shareholders to benefit from the offering’s proceeds or sell their stakes.
Oura, a company specializing in smart rings, has begun the process of offering its shares on Nasdaq under the ticker OURA, offering 50 million shares at a price ranging from $40 to $44. Existing shareholders will account for 73% of the shares offered, while the company expects subscription revenue to reach $240.5 million during the nine-month period ended in June.