GoPro, Inc. (GPRO): debt financing — GoPro secures $50M second lien term loan from Farallon; issues warrants for 11M shares at $1.25

GoPro, Inc.

$50M term loan from Farallon CM; proceeds repay $94M escrowed for Nov. 2025 convertible notes.
Loan at SOFR+7.50% or base+6.50%; matures Jan. 22, 2028; mandatory 25% excess cash flow prepayment.
Issued warrants for 11,076,968 shares of Class A common at $1.25/share, exercisable immediately, expires Aug. 4, 2035.
Financial covenants: liquidity ≥$40M (step-down to $30M), EBITDA minimums rising to $40M by Q4 2026, asset coverage ≥1.25x.
Amendment to Wells Fargo revolver grants first-priority IP lien; $9.9M outstanding under revolver.

item 1.01 item 3.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GoPro, Inc. incurred term loan of $50,000,000 with Mateo Financing, LLC, as lender at SOFR plus 7.50% maturing January 22, 2028.

Instrument: term loan
Principal: $50,000,000
Counterparty: Mateo Financing, LLC, as lender
Rate: SOFR plus 7.50%
Maturity: January 22, 2028
Event: incurrence

Exact text from the filing

as collateral agent (in such capacities, the “Second Lien Agent”), pursuant to which the Second Lien Lender would extend to GoPro a term loan in an aggregate principal amount of $50,000,000 (the “Term Loan”). The proceeds of the Term Loan borrowing will be used by GoPro to repay GoPro’s outstanding 1.25% Convertible Senior Notes due November 2025. The Term Loan will

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GoPro, Inc. filing history →

Source: SEC EDGAR

accession 0001500435-25-000047

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