Fenwick & West represented Fitbit, Inc. (NYSE: FIT), the maker of wearable health-tracking devices, in its $493 million follow-on public offering. The company priced 17,000,000 shares of its common stock at a price to the public of $29.00 per share. In addition, Fitbit has granted the underwriters a 30-day option to purchase up to an additional 2,550,000 shares of its common stock.
Morgan Stanley, Deutsche Bank Securities, BofA Merrill Lynch, Barclays and Citigroup acted as active joint book-running managers for the offering. Suntrust Robinson Humphrey, Piper Jaffray, RBC Capital Markets and Stifel acted as passive joint book-running managers.
The Fenwick transaction team included corporate attorneys Jeff Vetter, Cindy Hess, James Evans, Ran Ben-Tzur, Thomas Kang, Jennifer Hitchcock, Elizabeth Chang and Chris Gorman.