Sports camera maker GoPro revealed today just how much it’s looking to raise in its upcoming public bid.
The company intends to sell 17.8 million shares of stock at an estimated $21-$24 per share, according to an amended S-1 filing it submitted today to the U.S. Securities and Exchange Commission.
With those numbers, the initial public offering on Nasdaq could give GoPro as much as $427 million, with the company angling for a valuation as high as $3 billion, Bloomberg reported.
GoPro will use some of the money to pay off a loan through its credit facility, according to today’s filing. The remaining cash will reportedly help GoPro execute on plans like developing specialty hardware, bringing in revenue through a content management system, and turning the company into an all-out media entity that sells user-generated content.
The big public bid starkly contrasts the way GoPro got started: with $264,000 check from founder Nick Woodman’s parents. Woodman merely wanted a camera to strap to his wrist in order to film his surfing adventures.
The company first debuted in 2002.
GoPro makes the world’s most versatile cameras, enabling people to capture immersive and engaging photo and video content during their favorite activities. GoPro’s HERO lines of wearable and gear mountable cameras are used collecti... read more »
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