GoPro extends credit facility maturity to Jan 2027; replaces LIBOR with SOFR

GoPro, Inc.

Amendment extends maturity from Jan 22, 2024 to Jan 22, 2027 under existing credit agreement.
Interest rates unchanged: base rate plus 0.50%-1.00% or SOFR plus 1.50%-2.00%.
LIBOR-based rates replaced with term SOFR; certain fees reduced.
If insufficient cash to repay 2025 convertible notes, maturity accelerates to 91 days before note maturity.
No changes to covenants, representations, warranties, or events of default.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GoPro, Inc. amended Amendment No. 1 with Wells Fargo, as an administrative agent, and the Lenders party thereto (effective 2023-03-10).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo, as an administrative agent, and the Lenders party thereto
Effective: 2023-03-10

Exact text from the filing

On March 10, 2023, the Company entered into Amendment No. 1 (the “Amendment”) to the Credit Agreement, dated January 22, 2021, with Wells Fargo, as an administrative agent, and the Lenders party thereto (the “Existing Credit Agreement” and together with the Amendment, the “Amended Credit Agreement”).

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GoPro, Inc. filing history →

Source: SEC EDGAR

accession 0001500435-23-000035

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