topstockalerts
Sep 29, 8:09 PM
Oura Inc. postponed its IPO on Tuesday, citing market uncertainty, after several prospective investors raised concerns about its valuation and share structure, Bloomberg reported. The company and backers including Forerunner Ventures and Lifeline Ventures had sought to raise up to
$2.2 billion through a 50 million-share offering, comprising 13.5 million new shares and 36.5 million shares sold by existing shareholders.
At the top of the proposed price range, Oura would have been valued at
$14.1 billion based on outstanding shares, or about
$15 billion fully diluted. Investors reportedly questioned the large portion of the offering coming from existing shareholders rather than new capital for the company, as well as the weak post-IPO performance of comparable health-device companies. Fitbit fell below its IPO price before being acquired by Alphabet’s Google, while Peloton surged after its 2019 debut but later traded below its IPO price.
$OURA $PTON
