INSUBCONTINENT EXCLUSIVE:
Peloton, which debuted its IPO prospectus last month, plans to charge as much as $29 per share in its upcoming Nasdaq listing.In an amended
S-1 filing released Tuesday afternoon, the developer of internet-connected stationary bikes and treadmills announced a proposed price range
of $26 to $29 per share, allowing the company to raise as much as $1.2 billion in its 2019 public offering.At the high end of the proposed
The business is expected to launch its IPO roadshow as soon as Wednesday, according to Bloomberg.New York-based Peloton will trade under the
year at a valuation of $4.15 billion
In total, the company has attracted $994 million in venture capital investment, according to PitchBook
Tiger Global (19.8%), True Ventures (12%) and Fidelity Investments (6.8%) as principal stakeholders, or investors with at least a 5% stake
in the company.Peloton reported an impressive $915 million in total revenue for the year ending June 30, 2019, an increase of 110% from $435
million in fiscal 2018 and $218.6 million in 2017
upcoming float is expected to be one of the largest of the year.
