Peloton Stock Jumps On Raising $1B Via Equity Offering

Peloton Interactive Inc PTON has priced its public offering of 23.9 million shares of Class A common stock at $46 per share.
The offer price represents a discount of 3.2% to Peloton's closing price of $47.49 on November 15, 2021.
Peloton has granted the underwriters a 30-day option to purchase up to an additional 3.3 million shares.
The offering is expected to close on November 18, 2021.
The company expects net proceeds from the offering to be about $1.07 billion, which will be used for general corporate purposes.
Investors in the offering included entities affiliated with Durable Capital Partners LP and TCV and funds and accounts advised by T. Rowe Price Associates, Inc.
Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint bookrunning managers and representatives for the underwriters in the offering.
The company's stock has lost 44% over last month.
Price Action: PTON shares are trading higher by 11.9% at $53.13 on the last check Tuesday.

Momentum93.86

Growth18.76

QualityNot Available

Value30.76

Short

Medium

Long