Fitbit, Inc. has announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its Class A common stock.
The number of shares to be offered and the price range for the proposed offering have yet to be determined. The offer will be made by means of a prospectus only.
Fitbit said it intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “FIT.”
Morgan Stanley, Deutsche Bank Securities, and BofA Merrill Lynch will act as active joint book-running managers for the proposed offering. Barclays and SunTrust Robinson Humphrey will act as passive joint book-running managers and Piper Jaffray, Raymond James, Stifel, and William Blair will act as co-managers.
Fitbit also stated that a registration statement relating to these securities has been filed with the SEC but has not yet become effective.
Fitbit designs products that track everyday health and fitness, with a focus on connected health and fitness trackers, such as the Fitbit Flex wristband, Fitbit Zip and Fitbit One activity trackers, as well as the Aria Wi-Fi Smart Scale. Fitbit products are carried in more than 20,000 North American retail stores and sold internationally in more than 17 countries across Asia and Europe, according to the company. Headquartered in San Francisco, Fitbit is privately held and funded by Foundry Group, Qualcomm Ventures, SAP Ventures, Softbank Capital, SoftTech VC and True Ventures.