Fitbit Inc., the maker of wearable devices that collect data on exercise and sleep patterns, boosted the target size of its initial public offering by as much as 37 percent to $655.5 million.
Fitbit and its stockholders plan to offer 34.5 million Class A shares for $17 to $19 apiece, according to a prospectus filed Tuesday. At the high end of the offering range, Fitbit would be valued at about $3.9 billion. Earlier this month, the San Francisco-based company said 29.85 million shares would be sold at $14 to $16 apiece.
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