NEW YORK (TheStreet) -- GoPro (GPRO) shares are down 5.3% to $74.90 in early market trading on Thursday after the action camera manufacturer priced its previously announced secondary public offering below the stock's previous closing price of $79.09.
The company's new filing suggest that it will offer about 10.4 million shares at a discounted price of $75 per diluted share, which would value the offering at $777 million.
The company's largest shareholder, CEO Nicholas Woodman's Woodman Family Trust, will sell 4.1 million shares of their 45 million share stake in the company as part of the offering. GoPro shares have more than tripled since the company's June debut of $24 per share.
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