FitBit Plans To Raise Up To $358M In Its IPO

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Fitness tracker FitBit has updated the filing for its initial public offering with new pricing details.

The company plans to sell just under 22.4 million shares priced between $14 to $16. At the high end, that would bring the total amount raised in its IPO to $358 million. The filing also states that FitBit stockholders plan to sell 7.5 million shares.

FitBit filed an S-1 last month (with $100 million as a placeholder number for the amount to be raised) stating that the company sold 20.8 million devices as of March 31, and that it brought in $745.4 million in revenue last year.

FitBit will trade on the New York Stock Exchange under the symbol “FIT”.

Featured Image: fitbit