Peloton plans $ 1.2B Nasdaq IPO – TechCrunch
Peloton, who debuted the IPO prospect last month, plans to charge as much as $ 29 per share in the upcoming Nasdaq listing.
In an amended S-1 filing released Tuesday afternoon, the Internet developed connected desktop 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 the public offering of 2019.
At the high end of the proposed price, Peloton's valuation would exceed $ 8 billion. According to Bloomberg, the company is expected to launch its IPO roadshow as soon as Wednesday.
New York-based Peloton will trade under the ticker symbol PTON. Goldman Sachs & Co. and J.P. Morgan Securities manages the IPO as leading underwriters.
Peloton, founded in 201[ads1]2, raised $ 550 million in venture capital funding last year, valued at $ 4.15 billion. In total, the company has attracted $ 994 million in venture capital investment, according to PitchBook. The S-1 filing shows CP Interactive Fitness (5.4% stake before IPO) – a company affiliated with private equity firm Catterton – TCV (6.7%), Tiger Global (19.8%), True Ventures (12%) and Fidelity Investments (6.8%) as major 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, up 110% from $ 435 million in fiscal 2018 and $ 218.6 million in 2017. Meanwhile, losses hit 245.7 million in 2019, up significantly from a reported net loss of $ 47.9 million last year.
The company's upcoming liquid is expected to be one of the largest of those years.
