Loan & DebtJul 13, 2026, 08:36 AM
GoPro Closes $20M Senior Secured Notes; Amends Credit Pacts
AI Summary
GoPro, Inc. closed the sale of $20 million in senior secured notes and warrants to entities affiliated with its CEO, Nicholas Woodman. Concurrently, the company amended its credit agreements with Wells Fargo and Farallon Capital Management. The Wells Fargo amendment increased the interest rate on revolving loans by 1.00% and introduced significant fees, including a $5.0 million restructuring fee and a $1.0 million success fee, along with a new repayment schedule and a requirement to refinance within 180 days.
Key Highlights
- GoPro closed the sale of securities, receiving $20 million in gross proceeds.
- Issued $20 million in senior secured notes to affiliates of CEO Nicholas Woodman.
- Issued warrants exercisable for 25,706,940 shares of Class B common stock.
- Wells Fargo Amendment increased interest rate on revolving loans by 1.00%.
- Wells Fargo Amendment includes a $5.0 million restructuring fee and a $1.0 million success fee.
- Weekly repayments of $250,000 start Oct 9, 2026, increasing to $1.0 million from Nov 6, 2026.
- Company must refinance or repay all outstanding amounts within 180 days.
- Farallon Amendment permits transactions and grants certain waivers.
Price Impact
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