Smart ring maker Oura said on Tuesday it has delayed its US initial public offering, citing market uncertainty.
The development adds to a tepid start to the traditionally strong fall IPO market, as investors digest the Federal Reserve’s rate hike, geopolitical turmoil and volatility in AI stocks.
The consumer technology company had marketed a share sale of 50 million priced in an indicated range of $40 to $44 apiece.
“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 said in a statement.
The company has helped popularize smart rings, which track metrics such as heart health, activity and sleep.
