Oura aims to raise $2.2 bn in US IPO, selling 50 m shares

Oura Health announced on Sep 21 that it will seek up to $2.2 billion in a U.S. initial public offering. The company will put 50 million shares on the market, each priced between $40 and $44. The proceeds are expected to fund growth and expand the brand’s reach. Eli Lilly and the investment firm Dragoneer have signaled interest in buying shares. Existing shareholders, including Oura’s founders, will also sell part of their holdings. Oura’s product is a wearable smart ring that measures heart rate, sleep quality and other health signals. The ring sends data to a mobile app where users can see trends and receive advice. Analysts note that the health‑tech market is growing as consumers look for simple, continuous monitoring tools. The IPO will list the company on a U.S. exchange, giving it access to a larger pool of capital. Pricing the shares at $40‑$44 values the firm at roughly $5 billion, based on the offered share count. The offering follows a wave of tech firms turning to U.S. markets for larger valuations. Oura expects the funds to speed up product development and enter new markets worldwide.