The company which makes smart exercise bikes and connected treadmills has raised almost a billion dollars in venture funding.
The Culver City, California-based company has developed a platform, called CLINICS, to address many of the key challenges healthcare constituents face.
The company will use the funds to increase manufacturing capacity, further develop its Dario Diabetes Management Solution, expand sales and marketing efforts.
The company has developed a pill-sized sensor that is entirely implanted in the user's upper arm from where it can continuously monitor their glucose levels.
The New Zealand-based company got $3 million from AstraZeneca with which it recently signed a long-term commercialization agreement.
The Dallas, Texas-based company changed the asking price of its share to $19 (from $15-$17), as well as the number of shares it was selling to 8.3 million.
The telehealth service provider plans to offer 7 million shares to the public, each priced between $15 and $17, for a maximum value of $136.85 million.
Fitbit will begin selling its stock on the NYSE Thursday at a price of $20 per share, which is a dollar more than the company had previously announced.
The company shared some interesting numbers in its S-1 filing document with the SEC as it is preparing for the initial public offering.
Morgan Stanley, Deutsche Bank and Bank of America are managing the offering; the stock will be listed on the New York Stock Exchange under the symbol FIT.