GoPro, Inc. (NASDAQ: GPRO) announced that founder and CEO Nicholas Woodman has agreed to provide $20 million in financing to the company through entities affiliated with him.

The financing will be structured as $20 million in aggregate principal amount of senior secured notes, along with warrants to purchase shares of GoPro's Class B common stock. The transaction is subject to certain closing conditions.

According to the press release, an independent committee of GoPro's board of directors evaluated a range of financing options before approving the structure. Woodman said in a statement: "An independent committee of the board of directors evaluated a range of financing options and concluded this structure offered the most favorable terms for GoPro and our shareholders."

Woodman also referenced the company's ongoing review of strategic alternatives, a process GoPro announced on May 11, 2026. "I continue to strongly support the board's evaluation of strategic alternatives, a process we announced on May 11, 2026, and which continues to progress," he said.

Additional details on the financing are available in GoPro's Current Report on Form 8-K filed with the Securities and Exchange Commission.