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.
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PTONPeloton Interactive Inc
$7.332.23%

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