secwatch.observer — SEC 8-K summary
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Issuer:     GoPro, Inc. (GPRO)
CIK:        0001500435
Form:       8-K
Filed at:   2025-08-04T23:59:59+00:00
Accession:  0001500435-25-000047
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1500435/000150043525000047/0001500435-25-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1500435/000150043525000047/gpro-20250804.htm
  HTML page:      https://secwatch.observer/filing/0001500435-25-000047

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