Wearable sports camera maker GoPro Inc's GPRO.O initial public offering was priced at $24 per share, according to Reuters.
The company is now valued at up to $2.96 billion.
"GoPro's IPO raised about $427.2 million, after the offering of 17.8 million class A shares was priced at the top end of the expected range of $21-$24 per share," said Reuters.
The company sold 8.9 million shares in the IPO, while the rest were offered by selling stockholders.
GoPro sells one camera design under the Hero brand, which goes for between $199.99 and $399.99. The camera is very popular among athletes, surfers, skateboarders, and divers.
The company's biggest stockholders are GoPro's founder and CEO Nicholas Woodman and his family, with a total stake of 49 percent.
GoPro is the first consumer-electronic company to go public since the 2011.
"There probably hasn't been a consumer electronics brand as dominant as GoPro has been in its category since the early days of the iPod or the iPad," said Dougherty & Co analyst Charlie Anderson, in a note to clients, according to Reuters.
GoPro will use the proceeds from the offering for debt repayment and investment purposes.
As of March 31, the company had about $110.7 million in debt.
GoPro's cameras are used by ESPN and the Discovery Channel. Well known athletes like Olympic gold medal winning snowboarder Shaun White and world champion surfer Kelly Slater have endorsed the company's cameras.
Back in April, the company recently reported a rise of 8 percent in revenue to $235.7 million for the first three months of 2014.
Net income fell from $23 million to $11 million, according to Reuters.
Tony Bates, the former Microsoft Corp MSFT.O executive vice president of business development, was hired by GoPro as its president early this month.
The San Mateo, California-based company will most likely debut on the NASDAQ under the symbol "GPRO."
Citigroup, Barclays and J.P. Morgan are the main underwriters of the IPO, according to Reuters.
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