Two sizable IPOs are scheduled for the week ahead. VC-backed smart ring maker Oura plans the largest consumer discretionary IPO in years, while PE-backed Accelevation sill serve as a key test for the IPO market's AI infrastructure theme.
Oura (OURA) plans to raise $2.1 billion at a $15.0 billion market cap. Existing shareholders are selling 73% of the deal, with primary proceeds going to RSU-related tax withholding obligations. Oura sells a finger-worn sensor ring that tracks sleep, activity, stress, heart health, and women's health, paired with an app that turns the readings into more than 50 metrics and AI-generated guidance. Hardware accounted for 80% of revenue in the first nine months of fiscal 2026, with the remaining 20% from recurring membership subscriptions that unlock the full suite of health insights. As of June 30, 2026, it served 5.0 million Paid Members (+100% y/y) across 56 markets worldwide, with 12-month paid member retention of approximately 85%. In a notable first, Robinhood is a co-manager on the offering, while Coinbase is a selling agent.
Power distribution products manufacturer Accelevation (ACCV) plans to raise $660 million at a $4.9 billion market cap. Owned by Stamford-based PE firm Olympus Partners, Accelevation primarily provides products and services to hyperscale, colocation, AI, cloud and other large-scale data center customers. Its products include branch circuit whips, remote power panels, PDUs and related monitoring, thermal management and field installation into factory-built packages. The company grew revenue 147% in 2025 and had a backlog of approximately $1.1 billion as of June 30, 2026.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Accelevation (ACCV) Miamisburg, OH | $660M $4,965M | $20 - $24 30,000,000 | Morgan Stanley JP Morgan |
| Manufacturer of power distribution and infrastructure products for data centers. | |||
| Oura (OURA) San Francisco, CA | $2,100M $14,936M | $40 - $44 50,000,000 | Goldman Morgan Stanley |
| Sells smart rings and subscriptions for personalized health insights. | |||
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Two lock-up releases from sizable IPOs will be expiring in the coming week. View Street research and lock-up expiration dates on the Master Calendar (IPO Pro only).
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/24/2026, the Renaissance IPO Index was up 17.9% year-to-date, while the S&P 500 was up 13.5%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Astera Labs (ALAB) and SK hynix (SKHY). The Renaissance International IPO Index was up 28.0% year-to-date, while the ACWX was up 15.1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Kioxia (Toshiba Memory).
