Shareholders of the action camera maker will receive $1.14 per share, retaining a 10% stake in the newly formed public entity. The deal includes a full repayment of GoPro’s $92 million debt load, providing a clean slate for the firm’s new strategic direction. Trading of GoPro shares was halted Tuesday morning following a year of volatility that saw the stock price drop 38% since January.

The combined company aims to fuse GoPro’s massive portfolio of 2,500 patents with Starman’s domestic manufacturing capabilities. This partnership will focus on producing U.S.-made optical transceivers for high-growth strategic markets. While GoPro intends to maintain its existing consumer camera line, the primary growth engine will now shift toward commercial and defense-oriented hardware, prioritizing the onshoring of critical supply chains.