Home / Tech / Peloton says it plans to raise as much as $1.3 billion in its IPO

Peloton says it plans to raise as much as $1.3 billion in its IPO

Peloton CEO John Foley

 

Peloton, the buzzy maker of expensive internet-connected stationary bikes and treadmills, will seek to raise as much as $1.3 billion in its initial public offering.

The New York company plans to sell as much as 41.8 million shares of its stock to public investors, priced somwhere between $26 a share and $29 a share, the company said in its S-1 filing on Tuesday.

Peloton, which lost roughly $246 million in fiscal 2019 despite fast growing revenue, plans to trade on the Nasdaq exchange under the “PTON” ticker.

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