**[Robinhood Serves as IPO Underwriter for the First Time, Participates in Smart Ring Manufacturer Oura's Listing]** BlockBeats News, September 8 — According to The Wall Street Journal, smart ring manufacturer Oura has listed Robinhood as an underwriter in its IPO filing, marking Robinhood's first official participation as an IPO underwriter. Oura's listing is expected to achieve a valuation exceeding $11 billion, with Goldman Sachs, Morgan Stanley, JPMorgan Chase, Allen & Co., and Jefferies serving as joint lead underwriters. Robinhood ranks last among the 18 underwriting institutions. Robinhood received regulatory approval for underwriting business in June of this year. As an underwriter, Robinhood is expected to gain greater influence over how many shares of Oura are ultimately allocated to its customers. Currently, popular IPOs typically prioritize allocations to institutional investors, while retail investors often receive fewer shares through brokerage firms than they demand. Robinhood and Oura have already established multiple connections. Oura has invited Robinhood's former CFO Jason Warnick to join its board of directors, and Robinhood's closed-end fund launched in March this year has invested in Oura, with Oura accounting for 3.64% of the fund's assets. However, Georgetown University finance professor Reena Aggarwal believes Robinhood's initial impact on the IPO underwriting market may still be limited. [Original Link]