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Peloton Posts $1.2 Billion Nasdaq IPO

Peloton, which filed its IPO prospectus in August, plans to charge up to $29 per share in its upcoming Nasdaq listing.

In an amended S-1 filing released Tuesday afternoon, the developer of web-connected stationary bikes and treadmills declared a proposed price range of $26 to $29 per share, allowing the firm to raise up to $1.2 billion in its 2019 public offering.

At the high end of the proposed price, Peloton’s valuation would surpass $8 billion. The enterprise is anticipated to launch its IPO roadshow as soon as Wednesday.

New York-based Peloton will trade under the ticker symbol PTON. Goldman Sach and J.P. Morgan Securities are managing the IPO as main underwriters.

Peloton started in 2012, raised $550 million in venture capital funding in August at a valuation of $4.15 billion. In total, the firm has lured $994 million in venture capital funding, based on PitchBook. Its S-1 filing lists CP Interactive Fitness — an entity linked to the private equity agency Catterton — TCV, Tiger Global, True Ventures and Fidelity Investments as principal stakeholders, or traders with no less than a 5% stake in the firm.

Peloton posted an impressive $915 million in total income for the year ending June 30, 2019, a rise of 110% from $435 million in financial 2018 and $218.6 million in 2017. Its losses, in the meantime, hit $245.7 million in 2019, up considerably from a posted net loss of $47.9 million in 2018.

The firm’s upcoming float is predicted to be one of the biggest of the year.

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