Robinhood will serve as a co-manager for smart ring maker Oura’s upcoming initial public offering. Oura plans to list its shares on the Nasdaq. The underwriting syndicate consists of 18 firms. Goldman Sachs, Morgan Stanley, and J.P. Morgan will lead the offering.
This appointment marks a strategic shift for Robinhood as it expands its underwriting capabilities. The company previously distributed shares to users through its IPO Access program as a selling group member. Robinhood is now moving from a distribution-only role to the official group responsible for bringing companies public.