Peloton files to sell $1 billion in stock offering, shares drop

- Advertisement -


  • Peloton said Tuesday it plans to sell an additional $1 billion of its Class A common stock.
  • The connected fitness equipment maker is looking for ways to come up with cash for its products amid a slowdown.

- Advertisement -

Peloton said Tuesday it plans to sell an additional $1 billion of its Class A common shares, as the connected fitness equipment maker looks for ways to come up with cash for its products amid a slowdown.

- Advertisement -

Peloton said accounts advised by Durable Capital Partners and associates of TCV and T. Rowe Price Associate have expressed interest in buying the shares.

The company expects the offering to provide underwriters a 30-day option to purchase another $150 million of shares at the public offering price, reduced discount and commission.

- Advertisement -

Peloton stock fell more than 7% in extended trading following the news, having fallen nearly 70% to date. On Monday, the shares closed down 3.5 per cent.

Get the full press release from Peloton Here,

This story is developing. Please check back for updates.

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox