Following its initial public offering in June, GoPro Inc., filed plans this week for a round two offering of $800 million shares. The company plans to offer $100 million in shares, while current shareholders will sell the remaining $700 million.
The new capital, according to GoPro founder and CEO Nicholas Woodman, “will provide us with additional resources to invest in people, products, potential acquisitions, and infrastructure to help us achieve our long-term vision.” A portion of shares will be sold by Woodman, whose stake in the company is valued at about $3.4 billion. Woodman had about 44 percent of the voting power through a trust ahead of the secondary offering.
GoPro raised more than $427 million in its IPO, selling shares for $24 apiece. Shares have more than tripled from that initial price, closing at $79.06 Friday.
