GoPro agrees to merge with Starman Optical in $285M recapitalization

GoPro $GPRO has agreed to merge with optical-photonics company Starman Optical in a transaction involving approximately $285 million of recapitalization.
GoPro shareholders are expected to receive about $1.14 per share in cash while retaining roughly 10% of the combined company. Approximately $92 million of GoPro debt is also expected to be repaid at closing.
The combined business will remain publicly listed on Nasdaq and plans to expand beyond consumer cameras into AI data-center infrastructure, government, defense and aerospace markets using Starman's U.S.-manufactured optical transceivers.
The transaction represents a major strategic shift for GoPro, moving the company toward higher-growth optical infrastructure markets while significantly changing the ownership profile of existing shareholders.