Overview
- Coinbase began offering IPO access to eligible U.S. retail customers through Coinbase Capital Markets on Monday, with Oura’s 50 million‑share Nasdaq offering as the first deal available.
- Users place a conditional offer in the Coinbase app and, if allocated, receive actual common stock after settlement rather than derivative exposure.
- Coinbase Capital Markets will act as a FINRA‑registered broker‑dealer and selling‑group member that routes orders through Apex Clearing and does not underwrite or guarantee allocations.
- Oura is pitching 50 million shares at a $40 to $44 range for a roughly $15.62 billion fully diluted valuation, with 13.5 million primary shares and 36.5 million sold by existing holders plus a 7.5 million‑share option.
- Coinbase’s allocation rules favor longer holding periods by warning that selling within 30 days can bar users from future IPOs for 60 days, and the product will test how much retail demand affects pricing and aftermarket trading.