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