Peloton Raises $1.16 Billion in Top-of-Range U.S. IPO

Peloton Interactive Inc. raised $1.16 billion in its U.S. initial public offering, pricing its shares at the top end of its targeted range in a week roiled by more bad news for WeWork and its IPO plans. Peloton sold 40 million shares on Wednesday for $29 each, the home-fitness company said in a statement. The company had marketed the shares for $26 to $29 each. Peloton is valued in the listing at about $8.1 billion based on the outstanding shares as listed in its filings with the U.S. Securities and Exchange Commission. Tiger Global to Reap $1 Billion Profit on Peloton The IPO, the eighth in the U.S. this year to top $1 billion, comes as investors are rattled by the the sudden disintegration of WeWork’s plan to go public in September.