GoPro Inc (NASDAQ:GPRO) revealed further details of its secondary offering in a filing with SEC on Monday. The adventure camera maker said that its founder and CEO Nick Woodman would be selling 4.08 million class-A shares in the follow-on offering. Those shares are worth $332 million at current prices. GoPro went public in a blockbuster IPO in June.

GoPro Inc CEO To Sell 4 Million Shares In Secondary Offering

The share sale to raise more than $800 million

The San Mateo-based company plans to sell 1.29 million new shares to raise about $100 million. Woodman and other stockholders will put up 9.07 million shares on sale, according to the SEC filing. However, Woodman won’t be selling his class-B shares, which have special voting rights. In total, the secondary offering is expected to raise about $840 million.

In a letter to employees, GoPro CEO Woodman said that he would remain a “significant shareholder” in the company for a long time. The company unveiled its plans for the offering last week. GoPro said it will use the proceeds on infrastructure, potential acquisitions, people and products. GoPro stock has more than tripled since its IPO, helped by solid sales of its action cameras.

GoPro CEO will have 42% voting power

The company currently has only 26.29 million shares outstanding. Following the sale, Woodman will own 42.5% of class-A shares. The stake of directors and executive officers as a group will fall from 68.88% to 67.62% of class-A shares. Following the offering, executives including Woodman will own 65% of class-B shares. Woodman will have 42% of total voting rights.

The secondary offering comes before December 22 lock-up expiration tied to the company’s June 26 IPO. The lock-up expiration would see more selling. Among other stockholders divesting the stock is RW Camera Holdings LLC, a fund managed by Riverwood Capital. RW Camera will sell 1.63 million of its 16.7 million shares in the offering. Foxteq Holdings, a unit of Foxconn Technology Co Ltd (TPE:2354) will offer one million of its 10.66 million shares.

GoPro shares rallied 3.41% to $84.28 in early trading Tuesday.