Coinbase expands retail access to Oura IPO valued up to $2.2 billion

Coinbase has opened its brokerage platform to U.S. retail investors for the upcoming initial public offering of smart‑ring maker Oura. The service lets eligible customers place conditional orders for shares at the IPO price before the stock begins trading on the open market.

Oura IPO details

Oura plans to sell 50 million shares at an expected price range of $40 to $44 per share, valuing the offering between $2.0 billion and $2.2 billion. The company’s registration statement indicates that an unspecified portion of the shares will be made available to retail investors through Coinbase Capital Markets at the IPO price.

How the Coinbase offering works

Participation requires a Coinbase Capital Markets brokerage account and is limited to U.S. residents. When the price range is announced, eligible users can submit a “Conditional Offer to Buy” via Coinbase’s web or mobile interface. The request is not a guaranteed purchase; Coinbase receives a limited allocation of shares for each IPO and distributes them on a best‑efforts basis.

• Customers must fund their brokerage accounts to cover the requested purchase.
• Offers can be modified or cancelled while the order window remains open.
• After the order book closes, allocated shares are booked at the final IPO price and become tradable when public trading starts.

Restrictions on early sales

Shareholders who sell their Oura shares within 30 days of the IPO may be barred from participating in Coinbase’s IPO program for the next 60 days. Repeated early sales can lead to smaller future allocations. The policy does not forbid selling; it simply limits future access, a practice commonly referred to as “flipping.”

Broker‑dealer structure

Coinbase Capital Markets acts as a best‑efforts selling‑group member, aggregating customer orders and acting as their agent. It does not underwrite the offering, hold inventory, or take the opposite side of trades. Apex Clearing Corporation provides execution, clearing, and custody services, keeping the transaction within a conventional brokerage account separate from Coinbase’s digital‑asset services.

Future outlook

Coinbase plans to add more IPO opportunities as additional selling‑group allocations become available, further extending its U.S. brokerage business into traditional finance and offering retail investors direct access to primary‑market offerings.