Exercise bike and treadmill company Peloton priced its initial public offering this evening at $ 29 per share. As part of the IPO, Peloton is offering 40 million Class A common stock to the public.
Peloton was expected to price its IPO between $ 26 to $ 29 per share, so this falls on the higher end. With Peloton selling 40 million Class A shares, it is looking to raise $ 1.16 billion with a valuation of more than $ 8 billion.
Peloton filed to go public back in August, reporting $ 915 million in total revenue for the year ending June 30, 2019. That was an increase of 110% from the previous fiscal year. Prior to this upcoming IPO, Peloton had raised $ 994 million at a private market valuation of $ 4.15 billion.
Shares of “PTON” will start trading tomorrow on the Nasdaq.
