Smart ring maker Oura has delayed its long-awaited IPO just over a week after its announcement, citing market uncertainty. The company had set a price range of $84 to $89 per share, aiming for a valuation around $2.2 billion.

Oura was expected to list on the New York Stock Exchange under the ticker WEAR. The delay comes despite strong interest from investors, with the IPO being oversubscribed.

CEO Tom Hale stated, "The market conditions are not favorable right now. We are waiting for a better window." The company plans to proceed when market volatility subsides.

Oura has sold over 2.5 million rings globally and reported $250 million in revenue last year. The delay reflects broader caution in the tech IPO market.