Fitbit priced its initial public offering at $20 a share on Wednesday, a dollar
above its already heightened price range of $17 to $19 a share.
At that price, Fitbit will raise $732 million for itself and its
selling stockholders after again increasing the number of shares to be sold to
36.6 million from 34.5 million. The price values Fitbit at $4.1
billion.
Fitbit, founded in 2007, will begin trading on the New York Stock Exchange on Thursday under the symbol FIT.
On Tuesday, Fitbit said it planned to offer 34.5 million shares at between $17 and $19 per share. Previously, Fitbit planned to offer 29.85 million shares between $14 and $16 per share.
Last year, Fitbit earned $131.8 million, reversing a nearly $52 million loss in the previous year. Its sales more than tripled during that same period, to $745.4 million.
The offering was underwritten by Morgan Stanley, Deutsche Bank and Bank of America Merrill Lynch.
