Watch CBSN Live

GoPro to raise $800 million in stock offering

NEW YORK - GoPro (GPRO) said Monday that 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.

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.