GoPro Inc, a maker of wearable sports cameras and accessories, said it expected its initial public offering to be priced at $21-$24 per share, valuing the company at up to $3 billion.
The San Mateo, California-based company's 17.8 million-share IPO will raise $427.2 million at the top end of the range.
GoPro is selling 8.9 million Class A shares in the IPO, while the rest is being offered by selling stockholders.
The company, founded in 2004, sells its products through specialty retailers who target surf, ski and motorsports enthusiasts.
The company's products are endorsed by Olympic gold medal winning snowboarder Shaun White and 11-time world champion surfer Kelly Slater, as well as entertainers Foo Fighters, Jane's Addiction and Alton Brown.
GoPro, whose cameras are used by the Discovery Channel and ESPN, said JP Morgan, Citigroup and Barclays were its lead underwriters for the offering.
The company reported a rise of 8 percent in revenue to $235.7 million for the three months ended March 31. Net income fell to $11 million from $23 million.
GoPro plans to use the proceeds from the offering for debt repayment and investment purposes. The company had about $110.7 million in debt as of March 31.
GoPro's founder and Chief Executive Nicholas Woodman and his family are the company's biggest stockholders, with a total stake of 49 percent.
Another prominent shareholder is Foxteq Holdings Inc, which is ultimately owned by Taiwanese contract manufacturer Hon Hai Precision Industry Co Ltd.
GoPro hired Tony Bates, former Microsoft Corp executive vice-president of business development, as its president early this month. The company appointed Jack Lazar, a former Qualcomm Inc executive, as its chief financial officer in February.
GoPro plans to list its common stock on the Nasdaq under the symbol "GPRO".
(Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey and Maju Samuel)