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Fitbit Seeks Up to $478 Million in Health-Device Maker IPO

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Fitbit Looks to Raise $478 Million in IPO

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Fitbit Inc., the maker of wearable devices that collect data on exercise and sleep patterns, is seeking to raise as much as $478 million in an initial public offering.

Fitbit and its stockholders plan to offer 29.85 million Class A shares for $14 to $16 apiece, according to a prospectus filed Tuesday. At the high end of the offering range, Fitbit would be valued at about $3.3 billion.