Smart ring maker Oura has shelved its planned US IPO, becoming the latest high-profile company to postpone a listing amid mounting market uncertainty.
The Fed’s recent rate hike, the prospect of another increase in late October, elevated fuel prices, and sharply higher Treasury yields are clouding the outlook for consumers and investor risk appetite. The postponement comes as Anthropic's IPO prospectus reportedly leaked overnight.
Bloomberg reports that the wearable technology startup’s Nasdaq IPO was seeking to raise as much as $2.2 billion and was scheduled to price Tuesday. The delay comes despite an order book reportedly nearly four times subscribed.
The company had marketed 50 million shares at an indicated price range of $40 to $44 per share, according to a recent Bloomberg report.
"We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment. In the meantime, we will execute against the opportunities ahead," Oura CEO Tom Hale wrote in a statement.
Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co., and Jefferies were leading the IPO, which included shares sold by Oura and existing investors, including Forerunner Ventures and Lifeline Ventures.
According to Bloomberg data,
