GoPro to sell shares worth $800 million

gopro_imageGoPro, the U.S. marketer of action cams, said that the company and its founder and CEO, Nicholas Woodman, are prepared to sell some 10 million shares worth $800 million representing about 8 percent of the group’s outstanding shares. The move is set to soften the impact of the end of the lock-up period ending on Dec. 22. After GoPros going public in June, early shareholders and employees are not allowed to sell shares until this period expires. It is widely considered that these shareholders are going to sell a considerable amount of shares, which could cause stock to plummet significantly. GoPro hopes to raise some $100 million through the deal.

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