Oura's $2.2 Billion IPO Mostly Benefits Existing Shareholders

Oura plans to sell 50 million shares at $40-$44, raising up to $2.2 billion. Existing shareholders are selling 36.5 million of those shares. At the $42 midpoint, they would collect about $1.53 billion before fees, while Oura itself gets about $567 million. The listing is therefore mostly secondary liquidity, meaning cash to insiders rather than new funding for the company.