GoPro has entered into a securities purchase agreement to receive $20 million in financing from entities affiliated with its Founder and CEO, Nicholas Woodman. The transaction, effective July 1, 2026, involves the issuance of senior secured notes and warrants to purchase Class B common stock.
Key Details
- Financing Terms: The company will receive $20 million in gross proceeds through the sale of $20 million in senior secured notes and associated warrants.
- Senior Notes: The notes carry a 6.50% annual interest rate (paid-in-kind) and will mature on July 21, 2028. They are secured by a third lien on substantially all company assets.
- Warrants: The agreement includes warrants to purchase 25,706,940 shares of Class B common stock at an exercise price of $0.7780 per share, expiring three years after the closing date.
- Stated Purpose: According to the CEO, the financing reflects his enthusiasm for the company's opportunities and supports the board's ongoing evaluation of strategic alternatives.