---
schema_version: "secwatch.filing_event.v1"
accession: "0001500435-25-000047"
form_type: "8-K"
ticker: "GPRO"
cik: "0001500435"
company_name: "GoPro, Inc."
filed_at: "2025-08-04T23:59:59+00:00"
generated_at: "2026-05-17T21:25:37.621019+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# GoPro secures $50M second lien term loan from Farallon; issues warrants for 11M shares at $1.25

## Summary
- $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.

## SEC filing metadata
- accession: 0001500435-25-000047
- form_type: 8-K
- ticker: GPRO
- cik: 0001500435
- company_name: GoPro, Inc.
- filed_at: 2025-08-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1500435/000150043525000047/0001500435-25-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1500435/000150043525000047/gpro-20250804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001500435-25-000047
- JSON: https://secwatch.observer/filing/0001500435-25-000047.json
- Plain text: https://secwatch.observer/filing/0001500435-25-000047.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1500435/000150043525000047/0001500435-25-000047-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.