Quick Note: GoPro IPO Debuts for $24/Share
June 26, 2014 12:44 PM
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GoPro was valued at up to $2.96 billion USD
GoPro Inc.'s initial public offering was recently priced at $24 per share, according to a report from
Wearable camera company GoPro, which makes the Hero brand of portable cameras worn by many athletes and adventure seekers, was valued at up to $2.96 billion USD. The company's IPO generated about $427.2 million USD, and distributed 17.8 million Class A shares.
GoPro said it will use the proceeds from the offering for debt repayment and investment purposes. As of March 31, GoPro had about $110.7 million USD in debt. The company’s 2013 sales topped $985 million (a nearly 90 percent increase from the year before), and net income nearly doubled from $32 million in 2012 to $61 million for 2013.
GoPro is the first consumer electronic company to go public since headphones maker Skullcandy Inc. in 2011, and its shares are currently trading at around $31.
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RE: Not to be negative but...
6/26/2014 3:23:42 PM
That and on day 1 of IPO the stock is up 32% with about 30 minutes until the market closes.
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