GoPro (NASDAQ: GPRO) closes $20M notes financing and amends credit lines
Rhea-AI Filing Summary
GoPro, Inc. updates its prospectus to reflect a financing completed on July 9, 2026. The company received $20 million in gross proceeds from entities affiliated with CEO Nicholas Woodman, issuing senior secured notes with an aggregate principal amount of $20,000,000 and Warrants exercisable for 25,706,940 shares of Class B common stock.
GoPro also amended its Revolving Credit Agreement with Wells Fargo, increasing interest by 1.00% to base rate plus 3.50% or SOFR plus 0.10% plus 4.50%. A related fee letter provides for a $5.0 million restructuring fee tied to certain bankruptcy events, a $1.0 million success fee 181 days after July 9, 2026, stepped-up weekly repayments from $250,000 to $1.0 million, and requires full repayment via refinancing, sale or other transaction within 180 days.
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Filing Explained
GoPro completed a $20 million debt-and-warrant financing, adding secured debt, potential issuance of 25,706,940 Class B shares, higher borrowing costs, and repayment deadlines.
The July 13 prospectus supplement attaches a Form 8-K reporting that GoPro closed the securities sale on
The company received
The related Wells Fargo amendment increased the interest rate on revolving loans by
The latest quarterly report showed
Sources and calculations
- GoPro Form 424B3 prospectus supplement (2026-07-13)
- GoPro Form 8-K attached to the prospectus supplement (2026-07-13)
- Form S-1 purpose (2026-07-12)
- GoPro latest quarterly fundamentals (2026-03-31)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $40,723,000 / ($36,618,000 / 90) = [object Object]
Key Figures
Senior secured notes principal: $20,000,000
Gross proceeds: $20 million
Warrant shares: 25,706,940 shares
+5 more
8 metrics
Senior secured notes principal
$20,000,000
Aggregate principal amount of Notes issued to Buyers on July 9, 2026
Gross proceeds
$20 million
Cash received by GoPro at closing of the Securities sale
Warrant shares
25,706,940 shares
Class B common stock underlying Warrants issued to Buyers
Revolver rate increase
1.00%
Increase in interest rate on revolving loans under Revolving Credit Agreement
Base rate loan margin
3.50%
Margin over base rate for revolving base rate loans after amendment
SOFR margin
4.50%
Margin over SOFR plus 0.10% for revolving SOFR loans after amendment
Restructuring fee
$5.0 million
Fee payable upon certain bankruptcy events of default under the Fee Letter
Weekly repayments
$250,000 to $1.0 million
Installments from October 9, 2026, rising November 6, 2026, to January 1, 2027
Key Terms
senior secured notes, Warrants, Revolving Credit Agreement, SOFR, +2 more
6 terms
senior secured notes financial
"the Company issued to the Buyers (A) senior secured notes (the “Notes”)"
Senior secured notes are loans a company sells to investors that are backed by specific assets and given first priority for repayment if the company defaults. Because they have a claim on collateral and are paid before other debts, they usually offer lower risk and correspondingly lower interest than unsecured debt; investors use them to judge how safe repayment and recovery of principal might be, like holding a mortgage instead of an unsecured credit card balance.
Warrants financial
"and (B) warrants (the “Warrants” and together with the Notes, the “Securities”)"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Revolving Credit Agreement financial
"which amends that certain Credit Agreement... (the “Revolving Credit Agreement”)"
A revolving credit agreement is a flexible loan arrangement where a borrower can borrow, repay, and borrow again up to a set limit, similar to a credit card. It matters because it gives businesses or individuals quick access to funds whenever needed, helping manage cash flow and cover expenses without applying for a new loan each time.
SOFR financial
"or (ii) SOFR plus 0.10% plus a margin of 4.50% with respect to SOFR loans"
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
restructuring fee financial
"including a restructuring fee in the amount of $5.0 million payable upon"
success fee financial
"and a success fee in the amount of $1.0 million 181 days after July 9, 2026"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What new financing did GoPro (GPRO) complete on July 9, 2026?
GoPro completed a financing with affiliates of its CEO, receiving $20 million in gross proceeds. It issued senior secured notes with a $20,000,000 aggregate principal amount and Warrants exercisable for 25,706,940 Class B common shares.
Who purchased the new GoPro (GPRO) securities mentioned in the supplement?
The buyers are entities affiliated with Nicholas Woodman, GoPro’s Chief Executive Officer and board chairman. They acquired $20,000,000 in senior secured notes and Warrants exercisable for 25,706,940 Class B common stock shares under a previously announced purchase agreement.
How did GoPro’s (GPRO) revolving credit facility terms change?
GoPro amended its Revolving Credit Agreement with Wells Fargo, increasing interest by 1.00% to base rate plus 3.50% or SOFR plus 0.10% plus 4.50%. Further extensions of credit will now be at lenders’ discretion under the amended facility terms.
What fees are GoPro (GPRO) now obligated to pay under the new fee letter?
The fee letter adds a $5.0 million restructuring fee payable upon specified bankruptcy events, potentially reducible to $0, and a $1.0 million success fee 181 days after July 9, 2026, subject to reduction if the facility is refinanced or repaid earlier.
What repayment schedule applies to GoPro’s (GPRO) revolving credit facility?
GoPro must make weekly repayments of $250,000 starting October 9, 2026, increasing to $1.0 million weekly from November 6, 2026, until January 1, 2027, in addition to an obligation to fully repay the facility within 180 days via refinancing, sale, or other transaction.
Did GoPro (GPRO) amend any other credit agreement besides the revolver?
Yes. GoPro entered into a Farallon Amendment to its Term Loan Credit Agreement with Farallon Capital Management and Mateo Financing. The amendment permits the new securities transaction and grants certain waivers under the existing term loan documentation.
| PROSPECTUS SUPPLEMENT NO. 3 | Filed Pursuant to Rule 424(b)(3) | |||||||
| (To Prospectus dated June 3, 2026) | Registration No. 333-294507 | |||||||
GoPro, Inc.
This prospectus supplement updates, amends and supplements the prospectus dated June 3, 2026 (as supplemented, the “Prospectus”), which forms a part of our Registration Statement on Form S-1 (Registration No. 333-294507). Capitalized terms used in this Prospectus Supplement and not otherwise defined herein have the meanings specified in the Prospectus.
This Prospectus Supplement updates, amends and supplements the information in the Prospectus with the information contained in our Current Report on Form 8-K filed with the Securities and Exchange Commission on July 13, 2026 (the “Current Report”). Accordingly, we have attached the Current Report to this Prospectus Supplement.
You should read this Prospectus Supplement in conjunction with the Prospectus, including any amendments and supplements thereto. This Prospectus Supplement is qualified by reference to the Prospectus, except to the extent that the information contained in this Prospectus Supplement supersedes the information contained in the Prospectus. This Prospectus Supplement is not complete without, and may not be utilized except in connection with, the Prospectus.
Investing in our securities involves significant risks. See “Risk Factors” beginning on page 4 of the Prospectus, and under similar headings in any further amendments or supplements to the Prospectus, to read about factors you should consider before investing in our securities.
Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is July 13, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 9, 2026
GOPRO, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-36514 | 77-0629474 | ||||||
(State or Other Jurisdiction of Incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) | ||||||
3025 Clearview Way, San Mateo, CA 94402
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (650) 332-7600
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Class A common stock, par value $0.0001 | GPRO | NASDAQ Global Select Market | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01. Entry into a Material Definitive Agreement.
Closing of Senior Secured Notes and Warrants
On July 9, 2026, GoPro, Inc. (the “Company”) closed the sale of the Securities (as defined below) contemplated by the previously announced securities purchase agreement, dated as of July 1, 2026 (the “Purchase Agreement”), by and among certain entities (the “Buyers”) affiliated with Nicholas Woodman, the Company’s Chief Executive Officer and Chairman of the Company’s board of directors. In connection with the closing, (i) the Company received $20 million in gross proceeds and (ii) the Company issued to the Buyers (A) senior secured notes (the “Notes”) in an aggregate principal amount of $20,000,000 and (B) warrants (the “Warrants” and together with the Notes, the “Securities”) exercisable for 25,706,940 shares of the Company’s Class B common stock, par value $0.0001 per share.
The terms of the Securities are described in the Company’s Current Report on Form 8-K filed on July 8, 2026, which description is incorporated herein by reference.
Credit Agreement Amendments
On July 9, 2026, the Company entered into Waiver and Amendment No. 4 (the “Wells Fargo Amendment”) with Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “RCF Agent”), and the several lenders from time to time party thereto (the “Revolving Lenders”), which amends that certain Credit Agreement, dated January 22, 2021, by and among the Company, the RCF Agent and the Revolving Lenders (the “Revolving Credit Agreement”), in order to, among other changes to the Revolving Credit Agreement, amend certain provisions of the Revolving Credit Agreement to permit the transactions contemplated by the Purchase Agreement, increase the interest rate applicable to revolving loans under the Revolving Credit Agreement and grant certain waivers under the Revolving Credit Agreement.
The Wells Fargo Amendment increases the interest rate applicable to revolving loans under the Revolving Credit Agreement by 1.00% to a rate per annum of (i) the base rate plus a margin of 3.50% with respect to base rate loans, or (ii) SOFR plus 0.10% plus a margin of 4.50% with respect to SOFR loans.
The Wells Fargo Amendment also provides that any further extensions of credit (other than continuations of existing loans) under the Revolving Credit Agreement will be made at the discretion of the lenders party thereto.
In connection with the Wells Fargo Amendment, on July 9 2026, the Company and the RCF Agent entered into a second supplemental fee letter (the “Fee Letter”), which provides for the payment of certain fees to the RCF Agent for the ratable account of the Revolving Lenders, including a restructuring fee in the amount of $5.0 million payable upon the occurrence of certain bankruptcy events of default, which restructuring fee may be reduced to $0 upon a successful refinancing of the amounts outstanding under the Revolving Credit Agreement as a result of a bankruptcy or insolvency proceeding under certain conditions; and a success fee in the amount of $1.0 million 181 days after July 9, 2026, which success may be reduced if the amounts outstanding under the Revolving Credit Agreement are refinanced or repaid prior to such date. The Fee Letter also provides for the repayments of amounts outstanding under the Revolving Credit Agreement in weekly installments of $250,000 commencing on October 9, 2026, with such amount increasing to $1.0 million from and after November 6, 2026, until January 1, 2027. The Fee Letter also provides that the Company shall, within 180 days after July 9, 2026, consummate a refinancing, sale or other transaction that causes all amounts outstanding under the Revolving Credit Agreement to be paid in full.
On July 9, 2026, the Company entered into Waiver & Amendment No. 3 to Credit Agreement (the “Farallon Amendment”) with Farallon Capital Management, L.L.C. (“Farallon”), as agent and as collateral agent for itself and the other secured parties, and Mateo Financing, LLC (“Lender”), which amends that certain Credit Agreement, dated as of August 4, 2025, by and among the Company, Farallon, as agent, and Lender (as amended prior to the date of the Farallon Amendment, the “Term Loan Credit Agreement”) to, among other changes to the Term Loan Credit Agreement, permit the transactions contemplated by the Purchase Agreement and grant certain waivers under the Term Loan Credit Agreement.
The foregoing summary and description of the provisions of the Notes, the Warrants, the Wells Fargo Amendment, the Fee Letter and the Farallon Amendment do not purport to be complete and are qualified in their entirety by reference to the full text of such documents, copies of which will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2026.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 is incorporated herein by reference.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GoPro, Inc. | ||||||||
| (Registrant) | ||||||||
| Dated: | July 13, 2026 | By: /s/ Brian Tratt | ||||||
Brian Tratt Chief Financial Officer (Principal Financial Officer) | ||||||||