Peloton, which debuted its IPO prospectus last month, plans to charge as much as $29 per share in its upcoming Nasdaq listing.
In an amended S-1 filing released Tuesday afternoon, the developer of internet-connected stationary 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 its 2019 public offering.
At the high end of the proposed price, Peloton’s valuation would surpass $8 billion. The business is expected to launch its IPO roadshow as soon as Wednesday, according to Bloomberg.
New York-based Peloton will trade under the ticker symbol PTON. Goldman Sachs & Co. and J.P. Morgan Securities are managing the IPO as lead underwriters.
Peloton, founded in 2012, raised $550 million