reported by Reuters, GoPro shares closed down nearly 7% on Thursday,
wiping out about US$800 million in market value.
lockup prohibits insiders from selling stock within a certain time
period after a company’s public debut, with GoPro having embarked upon
an initial public offering this year in June.
media release, GoPro advised the Woodmans had provided a personal
gift towards establishing a new charitable organisation called The
Jill + Nicholas Woodman Foundation, with J.P. Morgan Securities
agreeing to release the organisation from the lockup
million shares of the company’s class A common stock have been gifted
to the organisation.
release advised more information on the foundation will be released
“at a later date”.