Wednesday, June 3, 2015

Fitbit Sets Estimated IPO Range

San Francisco-based Fitbit set an estimated IPO range on Tuesday, saying that it now expects to sell 29,850,000 shares of stock at between $14.00 and $16.00 per share. The company has filed to list on the New York Stock Exchange as FIT. Fitbit had filed for its IPO in May. The maker of fitness tracking bands is backed by Foundry Group, True Ventures, Softbank, Sapphire Ventures, SofTech VC, Qualcomm, and others.