GoPro planning a US IPO, looking to raise $100 million

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Action camera manufacturers GoPro, who are responsible for arguably the most popular sports camera series on the market at the moment, are looking to go public in the United States at least. The company has filed documents with regulators stating their intention to embark on their initial public offering (IPO).

GoPro is looking to raise $100 million from their IPO, a large proportion of which is intended to be used to pay off a loan that the company has. In addition, GoPro may use some of the funds from the IPO to “…acquire or invest in complementary businesses, technologies or assets.”

So GoPro will use the proceeds from their eventual IPO to get out of debt and perhaps expand the company as a whole. The amount they are targeting is fairly conservative, as far as initial public offerings go, while the company has improved on their net income over the last couple of years – potential investors will probably be pleased by GoPro’s recent financial performance.

Source: BBC

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