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

Gilead’s coronavirus treatment remdesivir to cost $3,120 per U.S. patient with private insurance
Coronavirus cases worldwide top 10 million with nearly half a million deaths — and 25% are in the US
Surgeon general stops short of warning people to avoid crowds on Fourth of July
Watch live: Dr. Anthony Fauci and other key health officials testify at Senate coronavirus hearing
Coronavirus live updates: U.S. reports a record 50,000 new cases in a day

Leave a Reply

Your email address will not be published.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