SAN MATEO (CBS / AP) — GoPro Inc. has filed the paperwork to take its niche video camera business public.
The company, based in San Mateo, makes devices popular with extreme athletes. Its small and durable cameras, which sell for several hundred dollars, can be found on the tops of helmets of skiers, handlebars of mountain bikers and the fronts of surfboards.READ MORE: Seaside Man Charged With 1991 Cold Case Murder Of Lloyd Joseph Perkins Jr
GoPro indicated in the filing that it hopes to raise up to $100 million, but that amount is likely to change as the banks managing the deal gauge investor interest. The company did not say how many shares it hoped to sell or for what price.READ MORE: Raiders Owner Mark Davis Defends Posting 'I Can Breath' Tweet Following George Floyd Verdict
It plans to use the proceeds for general corporate purposes and to repay a loan.
GoPro generated net income of $60.6 million in 2013 on revenue of $985.7 million, according to its filing Monday with the U.S. Securities and Exchange Commission. That’s up from net income of $32.3 million and revenue of $526 million the year before.MORE NEWS: Burglary Suspect Arrested After Police Find Him Hiding Inside SSF Home
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