NEW YORK (AP) — GoPro said Monday it plans raise an additional $800 million in a stock offering, sending its shares lower in morning trading.
In June, the sports camera maker raised $491 million from an initial public offering.
The company said it plans to use the cash raised for general corporate purposes, including possible acquisitions or to invest in another company.
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GoPro Inc. shares fell $3.81, or 4.9 percent, to $75.25 in morning trading Monday. Its stock has more than tripled from its IPO price of $24 in June.
GoPro, based in San Mateo, California, announced the offering in a filing with the U.S. Securities and Exchange Commission. It did not say how many shares it was selling.
