GoPro closes $20M senior secured notes to CEO affiliate; credit terms tightened

GoPro, Inc.

Issued $20M senior secured notes and warrants for 25.7M Class B shares to entities affiliated with CEO Nicholas Woodman.
Wells Fargo amendment raises revolving loan interest by 1.00% to base+3.50% or SOFR+4.50%.
Weekly repayments of $250K begin Oct 9, 2026, rising to $1M from Nov 6, 2026 until Jan 1, 2027.
Restructuring fee of $5M payable on bankruptcy events; success fee of $1M due 181 days after closing.
Farallon amendment permits the transactions and grants waivers under the term loan credit agreement.

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