Fitbit, Inc., the leading distributer of wearable fitness technology, went public June 17, announcing an initial public offering of 36,575,000 shares of its Class A common stock at a price to the public of $20 per share under the symbol “FIT,” according to a press release.
With Fitbit offering 22,387,000 shares and certain selling stockholders offering 14,187,500 shares, the selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 5,486,250 shares of Class A common stock.
Morgan Stanley, Deutsche Bank Securities and BofA Merrill Lynch are acting as active joint book-running managers for the offering. The offering is being made only by means of prospectus, of which a final copy may be obtained from Morgan Stanley & Co. LLC or from Deutsche Bank Securities Inc.
