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

Peloton CycleSource: 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. Peloton filed its initial prospectus last month. Documents showed while Peloton’s revenue is growing, its losses are widening. 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, which will list under the ticker PTON, expects to trade its shares on Nasdaq. This is a breaking news story. Stay tuned for updates

Source: CNBC

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