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FitBit Raises IPO Price Range to $19 Per Share

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This story originally appeared on CNBC

FitBit has raised its price range for shares in its initial public offering (IPO) to $17 to $19 per share, the company said Tuesday in a regulatory filing ahead of the company's stock pricing, which takes place on Wednesday, June 17.

FitBit | Instagram

At the midpoint of the range, it would value FitBit at roughly $3.7 billion. 

The company said it would offer 22.4 million shares of Class A stock and selling stockholders would offer 12.1 million shares of Class A common stock in the IPO.

The maker of popular fitness bands previously sought to sell shares between $14 to $16 apiece, raising as much as $478 million. FitBit, which is profitable, recorded about $100 million in net income on $745 million in revenue in the most recent calendar year.

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Kayla Tausche is an on-air reporter based at CNBC Headquarters in Englewood Cliffs, NJ. Tausche is also a member of the ensemble cast of CNBC's "Squawk Alley," where she focuses on the big money backing technology.