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Fenwick & West Represents Fitbit in $732M Initial Public Offering

June 17, 2015

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Fenwick & West represented Fitbit, Inc. (NYSE: FIT), the maker of wearable health-tracking devices, in its initial public offering. The company offered 36,575,000 shares of its common stock to the public at a price of $20 per share. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 5,486,250 shares of common stock.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and BofA Merrill Lynch acted as joint book-running managers for the offering. Barclays, SunTrust Robinson Humphrey, Piper Jaffray, Raymond James, Stifel and William Blair acted as co-managers.

The Fenwick transaction team included corporate attorneys Cynthia Hess, Jeffrey Vetter, James Evans, Ran Ben-Tzur, Thomas Kang, Jennifer Hitchcock and Tim Lee; executive compensation and employee benefits attorneys Shawn Lampron, Grace Chen, Marshall Mort and Alexandra Pressman; and intellectual property attorney Larry Granatelli.

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