GoPro Rescued by Starman Optical
The embattled camera manufacturer lived up to its action sports roots with a wild opening to the week, as today’s announcement of a merger with privately held, AI-focused firm Starman Optical followed Monday’s disclosure that YouTuber Mark “Markiplier” Fischbach had become its largest shareholder, sending the stock price soaring. GoPro entered into a definitive agreement for a $285 million cash sale, giving Starman a 90% stake while existing shareholders will retain the balance of outstanding shares. In part, the proceeds will go to clear GoPro’s $92 million in outstanding debt.
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