GoPro receives $20 million injection from founder Nicholas Woodman amid strategic sale review

GoPro’s founder and CEO Nicholas Woodman is providing the company with a $20 million financing package as the board continues to evaluate strategic alternatives, including a possible sale or merger. The deal combines senior secured notes bearing a 6.5% annual interest rate—added to the principal rather than paid in cash—and warrants to purchase about 25.7 million Class B shares at $0.778 each. The notes mature in July 2028, and the warrants cannot be exercised for six months unless a buyer emerges.

The financing arrives while GoPro grapples with a sharp revenue decline and a first‑quarter 2026 gross‑margin slump to 4.3% from 32.3% a year earlier, driven by weaker sales and rising memory‑chip costs linked to AI demand. The company has begun a restructuring plan that will cut roughly 23% of its global workforce by the end of 2026, with severance costs estimated at $11.5‑$15 million. Board advisers, including Houlihan Lokey, are also exploring new markets such as defense and aerospace for GoPro’s imaging technology.