Oura has pulled the plug on its planned US stock market debut at the last minute, putting its $2 billion IPO on hold despite having five million paying subscribers and rapidly growing revenue.
The smart-ring maker said Tuesday that it was postponing its Nasdaq listing because of 'uncertainty in the IPO market,' despite robust demand for the offering. CEO Tom Hale said Oura wanted to deliver an 'extraordinary IPO' for employees and investors and had the 'luxury of choosing our moment.'
