Peloton sets IPO range between $26 and $29 per share, looks to raise as much as $1.2 billion

Health, Fitness & Food

Peloton Cycle

Source: Peloton Interactive Inc.

Peloton seeks to raise as much as $1.16 billion in its initial public offering, the company known for its connected at-home fitness equipment said Tuesday in a regulatory filing. 

Peloton plans to price its shares between $26 and $29. The company is offering 40 million shares, which would value Peloton at $8.06 billion at the high end of the range. 

The company sells fitness equipment, including stationary bikes and treadmills, that are equipped with screens. Users pay $39 a month to stream Peloton’s classes. 

Peloton filed its initial prospectus last month. Documents showed while Peloton’s revenue is growing, its losses are widening. In the fiscal year ended June 30, Peloton reported sales grew 110% to $915 million from $435 million in fiscal 2018. Meanwhile, its 2019 net loss widened to $245.7 million, from a net loss of $47.9 million in the prior year.

Peloton, which will list under the ticker PTON, expects to trade its shares on Nasdaq.

Peloton made it onto CNBC’s “Disruptor 50” list the past two years.

Disclosure: CNBC parent Comcast-NBCUniversal is an investor in Peloton.

CNBC’s Lauren Hirsch contributed to this story

Products You May Like

Articles You May Like

Exercise levels predict lifespan better than smoking, medical history
Hair loss in children: What to know
Upstart 100: Papa
What to know about bone marrow transplants
Juul’s vaping products should be completely pulled off the market, says ex-FDA chief Gottlieb

Leave a Reply

Your email address will not be published. Required fields are marked *