GoPro, the maker of wearable sports cameras, amended the terms of its IPO on Wednesday. The company now is pricing its shares between $21 and $24 and hopes to raise $427.2 million, which would bring its valuation to around $3 billion.
The company also revealed that it will trade under the symbol "GPRO" on Nasdaq. In its previous filing last month, GoPro said it sought to raise $100 million.
GoPro plans to use the money for investment and debt payment. The company's debt had $110.7 million in debt as of March 31. GoPro's revenue soared to $985.7 million in 2013, from $526 million in 2012 and $234.2 million the year before. Put another way, GoPro sales more than quadrupled between 2011 and 2013.
That said, the picture wasn't quite as good on a quarterly basis. GoPro revenue for the first quarter of this year was $235.7 million, down from $255.1 million in the same quarter a year earlier. The company blamed this declined on production delays in the first quarter of 2013. GoPro also recorded a net profit of $60 million in 2013.
If you're unfamiliar with what GoPro does, check out this list of 4 extreme videos using GoPro cameras:
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