Smart Ring Maker Oura Said to Plan Tender Offer at 25% Discount

Oura Health Oy, the maker of popular smart rings, is working on a tender offer for existing investors at a discount to its latest funding round, according to people familiar with the matter, a move that will allow it to stay private for longer.

The Finnish startup will give shareholders the chance to sell shares at a roughly 25% discount to its Series E round last fall when it raised fresh funds at an $11 billion valuation, said one of the people, who asked not to be identified because the matter is private.

Oura Chief Executive Officer Tom Hale ...