Wall St Engine(@wallstengine):OURA IPO IS ~4X OVERSUBSCRIBED Smart ring maker Oura’s IPO has received roughly four times as many orders as shares available, per Bloomberg, with banks expected to stop taking orders Monday afternoon. Oura and existing shareholders are offering 50M shares at $40-$44 each, raising up to $2.2B. Of that, Oura itself is selling 13.5M shares, while existing holders including Forerunner Ventures and Lifeline Ventures are selling 36.5M. At the top of the range, Oura would carry a ~$14.1B market value and roughly $15B fully diluted valuation. The IPO is expected to price Sept. 29, with shares set to trade on Nasdaq under $OURA. The deal could also become the first U.S. IPO to raise more than $1B since July, despite several recent listings being postponed amid weaker market conditions. Source: Bloomberg

2026.09.25 19:40

OURA IPO IS ~4X OVERSUBSCRIBED Smart ring maker Oura’s IPO has received roughly four times as many orders as shares available, per Bloomberg, with banks expected to stop taking orders Monday afternoon. Oura and existing shareholders are offering 50M shares at $40-$44 each, raising up to $2.2B. Of that, Oura itself is selling 13.5M shares, while existing holders including Forerunner Ventures and Lifeline Ventures are selling 36.5M. At the top of the range, Oura would carry a ~$14.1B market value and roughly $15B fully diluted valuation. The IPO is expected to price Sept. 29, with shares set to trade on Nasdaq under $OURA. The deal could also become the first U.S. IPO to raise more than $1B since July, despite several recent listings being postponed amid weaker market conditions. Source: Bloomberg

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Liquid@liquidtrading

2026.09.25 15:39

Oura is "ringing" the opening bell next week. Traders on Liquid are already pricing it 21% above its proposed IPO price. What is that premium pricing in? Oura, the maker of smart rings that track sleep, activity and other health metrics, is expected to go public next week at a proposed $40–$44 per share. The perpetual reflects traders’ expectations of opening prices once public. The S-1 filing shows substantial growth. For the nine months ended June 30, 2026: > Revenue: $1.21B, up 74% year over year > Membership revenue: $240.5M, up 121% > Paid members: 5M, double a year earlier > Gross margin: 55%, up from 51% > Net income: $60.8M But there’s a valuation question. Compared with previous consumer-health IPOs, Oura’s $51 implied price represents roughly 11.5× trailing revenue, versus 4.2× for Fitbit and 8.9× for Peloton at their IPO prices. Think that valuation is too high? You can short Oura’s pre-IPO perpetual on Liquid. Think its growth justifies a higher price? You can go long. Retail investors typically have limited access to private-company shares before an IPO. Pre-IPO perpetuals offer a way to trade those companies’ implied prices now, without securing an IPO allocation, finding a secondary-market seller or owning the underlying shares. And the IPO pipeline is expanding. AI infrastructure company Nscale filed its S-1 on September 18, and more companies are expected to come to market soon. Oura, Anthropic and OpenAI pre-IPO perpetuals are available on Liquid, with more planned as markets become available. You don’t have to wait for the opening bell to trade your view. Trade your view now here:

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