(Bloomberg) -- Envista Holdings Corp., a dental products maker, raised $589 million after pricing its U.S. initial public offering within the marketed range.

The dental business of medical and industrial equipment manufacturer Danaher Corp. sold 26.8 million shares for $22 apiece on Tuesday, according to data compiled by Bloomberg. The shares were offered at $21 to $24 each, according to a regulatory filing.

The company, based in Brea, California, is valued in the IPO at $3.4 billion based on the shares to be outstanding as listed in its filings with the U.S. Securities and Exchange Commission.

Envista is going public as a year of high-profile IPOs are yielding mixed results after a summer lull. Software provider Cloudflare Inc. raised $525 million last week, exceeding its target, and its shares have risen 25% since then.

SmileDirectClub Inc., the online orthodontic supply company that priced its $1.35 billion IPO above its marketed range last week, has fallen 17% below its $23 a share offer price.

We Co., the parent company of WeWork, had intended to price its IPO this month, people familiar with the matter had said. Stung by declining valuation expectations and investor doubts about its corporate governance, the office-sharing company said Monday in a statement that it expects to complete its listing by the end of the year.

Envista will use the IPO proceeds to pay Danaher for the dental business. Danaher will retain about 83% of the total voting power of the company, the filings shows.

JPMorgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley led the offering. Envista is expected to begin trading Wednesday on the New York Stock Exchange under the symbol NVST.

(Updates with company’s valuation in third paragraph)

--With assistance from Matthew Monks.

To contact the reporter on this story: Crystal Tse in New York at ctse44@bloomberg.net

To contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Michael Hytha, Andrew Pollack

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