Good morning, hope all had a great weekend. Let’s get into this week’s debuts.
This week’s traditional non-SPAC calendar is built around Wednesday, September 30. Two large names are set to price. Two smaller deals remain on the calendar with soft “week of” dates and those are the usual suspects.
| Company | Ticker | Size | Price Range | Underwriter |
|---|---|---|---|---|
| Oura Inc. | OURA | ~$2.1B | $40–$44 | Goldman Sachs, Morgan Stanley, J.P. Morgan |
| Accelevation Holdings | ACCV | ~$660M | $20–$24 | Morgan Stanley, J.P. Morgan |
| Web3Labs Global | MDAT | ~$28.1M | $4–$5 | Eddid Securities USA |
| BW Industrial Holdings | BWGC | ~$17.1M | $6–$7 | Eddid Securities USA |
Oura Inc. OURA | Healthcare / Wearables |
Size / Price ~$2.1B · $40–$44 | Shares 50M shares | LTM Revenue ~$1.425B |
This is the week’s headline deal. Oura is targeting about $2.1 billion by offering 50 million shares at $40.00 to $44.00. The company is selling 13.5 million shares; selling stockholders are offering the other 36.5 million.
Goldman Sachs, Morgan Stanley, and J.P. Morgan lead a long syndicate that also includes Allen & Co., Jefferies, BofA Securities, Barclays, Wells Fargo Securities, and others. Expected to trade Wednesday on Nasdaq.
Oura makes the Oura Ring, a health wearable that tracks sleep, readiness, stress, heart metrics, and more than 50 other readings. Last-twelve-month revenue was about $1.425 billion, with net income of about $59 million.
Eli Lilly has indicated interest in buying up to $100 million of the deal, and Dragoneer up to $300 million.
It is interesting because it is already a scaled, profitable consumer-health brand, not a pre-revenue gadget story. Most of the offering is secondary, and a large piece of the company’s own proceeds is earmarked for RSU tax withholding, so this is more about creating a public market than funding a turnaround.
Accelevation Holdings Corp. ACCV | Industrial / Data Centers |
Size / Price ~$660M · $20–$24 | Shares 30M shares | 2025 Revenue ~$448M |
Accelevation is targeting about $660 million by offering 30 million shares at $20.00 to $24.00. Morgan Stanley and J.P. Morgan lead, with Goldman Sachs, Barclays, BofA Securities, Houlihan Lokey, Baird, William Blair, Piper Sandler, and Wolfe Nomura Alliance. Expected Wednesday on Nasdaq.
The Ohio company designs, builds, and installs power-distribution and white-space gear for data centers: circuit whips, remote power panels, steel frames, cable routing, containment, and liquid-cooling-ready products.
Revenue grew 147 percent from 2024 to 2025. 2025 revenue was about $448 million, with net income of about $22 million and a backlog of about $1.1 billion as of June 30, 2026.
It fits the AI buildout: operators need factory-built kits that go in faster than a pile of separate vendors. Concentration in a handful of large data-center customers is the risk.
Web3Labs Global MDAT | Web3 / Blockchain |
Size / Price ~$28.1M · $4–$5 | HQ Hong Kong |
Hong Kong Web3 services firm, about $28.1 million, 6.3 million shares at $4.00 to $5.00, week of September 30. Eddid Securities USA.
BW Industrial Holdings BWGC | Industrial / EPC |
Size / Price ~$17.1M · $6–$7 | HQ Houston |
Houston EPC shop, about $17.1 million, 2.6 million shares at $6.00 to $7.00, week of October 2. Eddid Securities USA.
“That’s the deal for this week’s IPOs. The two Wednesday names are the ones that matter. Dates on the small deals can still move. Have a good week.”
