FitBit Raises IPO Price Range to $19 Per Share The wearable fitness tech company is expected to IPO today.
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.
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.
