The company plans to raise somewhere around $3.4 Billion in its public offering.
An initial public offering announcement for the product is expected to come sometime today, and on Thursday, the stock will be traded on the New York Stock Exchange.
As per the Wall Street Journal, Snap has made up its mind as to its final IPO valuation and per share price.
Though Spectacles marked Snapchat's foray into the gadget sector, as well as the company's pivot from an ephemeral messaging app to a self-described "camera company", the smart sunglasses launch may be just the beginning of its hardwareambitions.
Snap, which rebranded itself as a camera company past year, debuted video-camera sunglasses called "Spectacles" as its first product in November.
Snap had, however, promised almost 240 million shares to employees as of December 31, including 37 million - worth almost $600 million - as an IPO bonus for boss Evan Spiegel.
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Reps for Snap did not immediately respond to a request for comment. Snap will be raising almost $2.5 billion in its IPO.
Snap's underwriters are getting 30 days to buy an additional 30 million shares of the company's Class A common stock, according to a statement. But IPO demand is hot, suggesting that Snap could price at 18, which would give it a $25 billion market. Snapchat in early February said its daily user count is 158 million.
Snap filed to go public in early February, showing a rapidly accelerating advertising business that went from $59 million in revenue in 2015 to almost $400 million in 2016.
However, these are just reports that the company has worked on the product. According to three anonymous sources, the company is building a drone in an attempt to be "a modern-day camera company".
Despite the challenges in converting "cool" into cash, Snap clinched a valuation of $24-billion, the richest valuation in a USA tech IPO since Facebook in 2012.
Spiegel's vision for the company remains somewhat mysterious.