GoPro Inc(NASDAQ:GPRO) Closes IPO, Pocketing Over $260 Mln in Net Proceeds

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GoPro Inc(NASDAQ:GPRO) was edging higher in Tuesday’s late session, with shares of the wearable camera-maker continuing to add to four days of big gains and the company tonight saying it has closed on its initial public offering of stock, selling a total of 23.14 million shares of its Class A common stock.

Several early investors and executives with the company, including CEO Nicholas Woodman, sold a combined 11.57 million shares as part of the June 26 offering priced at $24 a share, with GPRO selling another 11.57 million shares, including the exercise of underwriter options to purchase 2.67 million shares.

The company pocketed slightly more than $261 million in net proceeds from the offering after first paying underwriter discounts and commissions. The selling shareholders also shared over $261 million in net proceeds.

GPRO shares have more than doubled in value during their first four days of trading, climbing from the $24 per share IPO price to close Tuesday at $48.80 a share, including a 20.4% advance during today’s session, up $8.25 a share. The stock is up 0.2% in tonight’s late session, adding 10 cents a share.

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