Peloton shareholder Michael Duda on the high-end bicycle maker filing for IPO. videoPeloton IPO: Early investor not worried about steep losses

Peloton shareholder Michael Duda on the high-end bicycle maker filing for IPO.

Peloton has released more information concerning the company's plan to go public.

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The fitness startup known to most for its on-demand workout programs on exercise bikes, plans to raise $1.33 billion in an initial public offering.

Peloton filed to become a public company in August.

The company plans to offer 46 million shares at a price range between $26 and $29 per share, according to a Securities and Exchange Commission filing.

If Peloton sells shares at the high end, it will push its market value to $8.23 billion.

The exercise company has applied to list the Class A shares on the Nasdaq under the symbol PTON.

The company which was founded in 2012 has more than 1.4 million members who can access live and on-demand classes from home.

Peloton lost $196 million on sales of $915 million during the 12 months ended June 30, according to its filing.

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The company warned it may not turn a profit or maintain profitability in the future.

Goldman Sachs, J.P. Morgan, BOfA Merrill Lynch, Barclays are among the underwriters to the IPO.

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https://www.foxbusiness.com/markets/peloton-plans-to-raise-as-much-as-1-3-billion-in-an-ipo

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