NYSE: FIT $ 3.04 +0.09 +3.05% Volume: 6,375,958 August 21, 2019
11/02/2015

Fitbit Intends to File Registration Statement for Proposed Follow-On Offering

SAN FRANCISCO--(BUSINESS WIRE)-- Fitbit, Inc. (NYSE:FIT) today announced that it intends to file a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) on November 2, 2015 relating to a proposed underwritten follow-on public offering of its Class A common stock. Fitbit is proposing to sell 7,000,000 shares and certain selling stockholders are proposing to sell 14,000,000 shares. In addition, the selling stockholders will grant the underwriters a 30-day option to purchase up to an additional 3,150,000 shares. Fitbit will not receive any proceeds from the sale of the shares by the selling stockholders.

The principal purposes of the proposed offering are to increase Fitbit’s financial flexibility, obtain additional capital, facilitate an orderly distribution of shares for the selling stockholders, and increase Fitbit’s public float. The proceeds of the primary portion of the proposed offering will be used to provide additional working capital for Fitbit and for other general corporate purposes, including research and development and sales and marketing activities, general and administrative matters, and capital expenditures. As part of the underwriting procedures, all selling stockholders, as well as all executive officers and directors, will agree to enter into lock-up agreements for a period of 90 days following the proposed offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Source: Fitbit, Inc.

Fitbit, Inc.

Investor Contact:

Brad Samson, 415-604-4106

investor@fitbit.com

or

Media Contact:

Jen Ralls, 415-941-0037

PR@fitbit.com