Robinhood acts as lead underwriter for the first time, with a 42% probability that Oura's market value exceeds $20 billion on its debut day.

According to PolyBeats monitoring, on September 8, smart ring manufacturer Oura listed Robinhood as an underwriter in its IPO filing, marking Robinhood's first formal participation in IPO underwriting. For Oura's listing, Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co., and Jefferies served as joint lead underwriters, with Robinhood ranking last among the 18 underwriting institutions.

Previously, Bloomberg reported on August 24, citing sources familiar with the matter, that the company's valuation at the listing stage would exceed $16 billion. As of writing, the Polymarket market "Oura IPO first-day closing market cap reaches at least $20 billion" shows a probability of 42%. Oura was valued at approximately $11 billion during its 2025 funding round. If priced at a valuation above $16 billion, reaching a first-day closing market cap of $20 billion would require an additional increase of about 25% from that level.