Coinbase announced that platform users meeting the requirements can now apply to participate in the IPO of smart ring manufacturer Oura before the public trading begins.
Oura plans to issue 50 million shares at a price of $40-44 per share. Of these, 13.5 million shares will be issued by the company itself, while the remaining 36.5 million will be sold by existing shareholders. After the IPO, the shares will be listed on Nasdaq under the ticker OURA.
However, applying through Coinbase does not guarantee allocation.
Among the potential major buyers of the IPO are Eli Lilly, which has expressed interest in purchasing shares worth up to $100 million, and funds from Dragoneer Investment Group—up to $300 million.
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