GoPro Launches $800 Million Offering

GoPro Launches $800 Million Offering

GoPro Inc's founder and CEO Nick Woodman holds a GoPro camera in his mouth as he celebrates GoPro Inc's IPO at the Nasdaq Market Site in New York City.

Image credit: Reuters | Mike Segar
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Wearable camera maker GoPro Inc announced a follow-on offering of $800 million of Class A shares, with its chief executive saying he plans to sell a portion of his holdings in the company.

It was not clear when CEO Nicholas Woodman would sell the shares. The lock-up period on the stock, which listed in June, expires on Dec. 22.

GoPro shares fell as much as 5.1 percent in early trading on Monday.

(Reporting by Abhirup Roy in Bangalore; Editing by Saumyadeb Chakrabarty)

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