The company had expected to price in the range of $14 to $16 a share for trading Friday. It comes on the heels of I3 Mobile (Nasdaq: IIIM) and high demand for other companies in the wireless sector.
For the year ended Dec. 31, the company's net loss was $11.5 million on revenue of $2.7 million, as compared to a loss of of $2.6 million on revenue of $827 000 in 1998.
GoAmerica relies on capacity from the networks of wireless carriers such as AT&T Wireless Services (NYSE: T), American Mobile (Nasdaq: SKYC), Bell Atlantic Mobile (NYSE: BEL) and BellSouth Mobile.
These companies are also competitors, GoAmerica said in its filings with the SEC.
Bear Stearns is the lead underwriter for the deal, Chase H&Q and USB Piper Jaffray are co-managers.