GoPro has warned of "substantial doubt" about its ability to continue as a going concern and is exploring strategic alternatives. The company recently announced a merger with Starman Holding, though no official SEC filing has yet been released. Starman Holding, whose website was registered a couple of years ago, describes itself as having little history beyond that.

Many of its team members, including COO Sam "Sonny" Haddad, are listed as working for Onward Brands, a company whose website appeared dead when visited. Starman Holding’s CEO Charles "Charlie" Tebele commented on the deal, referencing AI, security, and ’Murica. The company does business under the name Starman New Photonics, which received a tax credit from the State of New Jersey earlier this year.

Tebele and Starman Holding are defendants in a New York Supreme Court case concerning alleged debts to Merchant Factors Corp., a factoring company used by Onward Brands. The defendants have rejected the claim. The timing of the merger announcement and subsequent stock price movement has drawn attention, with observers noting unusual market activity.