GoPro Inc (NASDAQ:GPRO) said in a regulatory filing today that it will sell about $800 million worth of common shares. The company said it intends to use the share offering for “general corporate purposes and working capital.” The value of the offering will be up to $800 million.

GoPro Inc Registers $800 Million Offering

Details on GoPro’s new offering

The camera maker also said it plans to expand its business through content editing, sharing and management offerings. The goal is to increase the value it can offer to customers while also introducing new streams of revenue so that GoPro can set itself apart from competitors.

Today’s filing does not necessarily mean that GoPro will sell all of those shares, reports Business Insider. The company is not obligated to sell the extra stock within a set amount of time. The filing simply gives GoPro the right to issue up to $800 million worth of more shares.

GoPro’s offering related to IPO

It also doesn’t state exactly when the offering might occur, although it does say that the company won’t receive and proceeds from it. The filing indicates that the offering is in connection with the upcoming lockup expiration that was set at the initial public offering earlier this year. Usually the lockup us 180 days after an IPO, during which some insiders at companies are not allowed to sell their shares.

GoPro CEO Nicholas Woodman said he plans to sell some of his shares in the camera maker, although the filing does not indicate when he will sell those shares. It will have to be sometime after Dec. 22, according to Reuters (via Yahoo! Finance), which reports that the lockup period ends on that date.

In addition to Woodman, GoPro will offer $100 million worth of shareholders, with current shareholders selling the other $700 million, reports The Wall Street Journal, which cites an email Woodman sent to company employees today. Woodman held approximately 44% of the voting power of GoPro through a trust before the company’s IPO in June.

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