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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Wed., Nov. 25, 5:11 AM

Slide #25. Fitbit, Inc. Secondary Offering

Company: Fitbit, Inc. (NYSE:FIT)
Date announced: 11/9/2015
Shares Offered: 21,000,000
Secondary Offering Details: Fitbit, Inc. (NYSE:FIT), the leader in the connected health and fitness market, today announced that it has commenced a follow-on public offering of its Class A common stock pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (SEC). Fitbit is proposing to sell 7,000,000 shares of Class A common stock and certain selling stockholders are proposing to sell 14,000,000 shares of Class A common stock. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3,150,000 shares of Class A common stock to cover over-allotments. Fitbit will not receive any proceeds from the sale of the shares by the selling stockholders.

Fitbit combines connected health and fitness devices with software and services, including an online dashboard and mobile apps, data analytics, motivational and social tools, personalized insights, and virtual coaching through customized fitness plans and interactive workouts. Co.'s platform helps people become more active, exercise more, sleep better, eat smarter, and manage their weight. Fitbit appeals to a large, mainstream health and fitness market by addressing these key needs with advanced technology embedded in simple-to-use products and services.

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Company Name:  Fitbit Inc
Sector:  Computers
Number of ETFs Holding FIT:  19
Total Market Value Held by ETFs:  $10.13M
Total Market Capitalization:  $1.16B
% of Market Cap. Held by ETFs:  0.87%

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November 25, 2015    5:11 AM Eastern
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Buy (3.18 out of 4)
53rd percentile
(ranked higher than approx. 53% of all stocks covered)
Based on Zacks ABR data;
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