Oura, the AI-driven health monitoring ring, just pulled their $2.2B IPO citing "uncertainty in the IPO market".

Oura, the AI-driven health monitoring ring, recently withdrew its $2.2 billion IPO, publicly citing "uncertainty in the IPO market." However, an analysis of the IPO filings suggests a different reason. Approximately $1.5 billion of the funds raised would have gone to selling parties, with only about $567 million allocated to Oura. Furthermore, roughly 93% of Oura's portion was earmarked for employee tax withholding, leaving almost no capital for business growth.