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Wearable action camera maker GoPro sets terms for $401 million IPO

By: Renaissance Capital
Posted: 6/11/2014 9:00:00 AM
Referenced Stocks: GPRO

GoPro, the leading producer of wearable HD action cameras, announced terms for its IPO on Wednesday. The San Mateo, CA-based company plans to raise $401 million by offering 17.8 million shares (50% insider) at a price range of $21 to $24. At the midpoint of the proposed range, it would command a fully diluted market value of $3.4 billion.

GoPro, which was founded in 2004 and booked $966 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol GPRO. GoPro initially filed confidentially on February 7, 2014. J.P. Morgan, Citi and Barclays are the joint bookrunners on the deal. It is expected to price during the week of June 23, 2014.