$OURA · Oura Inc.

Oura Inc. filed Amendment No. 1 to its S-1 registration for an initial public offering of 50,000,000 shares of common stock. The offering consists of 13.5 million primary shares by the company and 36.5 million secondary shares by selling stockholders, with an indicated price range of $40.00 to $44.00 per share. Eli Lilly has indicated non-binding interest in purchasing up to $100 million and Dragoneer Investment Group up to $300 million as cornerstone investors. The company completed its redomiciliation from Finland to Delaware on March 31, 2026, and has applied to list on Nasdaq under the "Ō"

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A high-profile consumer-health wearable IPO with a recurring membership model, heavy insider selling, and pharma strategic interest — a litmus test for the digital-health public-market window.

Oura enters a consumer-health IPO market alongside wearables peers; the smart-ring form factor and recurring membership model differentiate it from wrist-based incumbents like Apple and Garmin. Eli Lilly's cornerstone interest signals pharma-wearables convergence potential.

Heavy secondary sell-down: 73% of offered shares come from selling stockholders, not the company. Cornerstone investor indications are non-binding — either may purchase fewer or no shares. No prior public market exists; post-IPO lockup expirations could pressure the stock.